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By Frank Esposito
SENIOR STAFF REPORTER
Published: July 29, 2013 2:08 pm ET
BASF SE will open a massive new nylon resin plant in Shanghai in 2015.
The plant will have around 220 million pounds of annual capacity to make Ultramid-brand nylon. The plant will be in the Shanghai Chemical Industry Park, where BASF already makes other specialty chemicals.
“As part of our long-term strategy, we aim to locate production close to our customers in the Asia Pacific region so that we can better support their growth,” Greater China President and Chairman Albert Heuser said in a July 29 news release.
In the same release, global nylon senior vise president Hermann Althoff said that demand for nylon products in the engineering plastics fiber and film industries “will grow strongly, particularly in China.”
Heuser added that Ludwigshafen, Germany-based BASF “intends to grow 2 percentage points above the market in [the] Asia Pacific, and maintain our commitment to environmental protection.”
BASF already operates nylon polymerization plants in Germany, Texas, Belgium and Brazil. The firm ranks as one of the world's largest makers of chemicals, specialty plastics and plastic additives. BASF employs more than 110,000 worldwide and posted sales of almost $94 billion in 2012. | |
