BASF to capitalise on multi-billion dollar market

15 October 2007 09:15  [Source: ICIS news]

MUMBAI (ICIS news)--Germany’s BASF saw the global automotive industry as a potential multi-billion dollar market, with the company planning to capitalise on the segment’s demand for innovative technologies to increase energy efficiency, it said on Monday.

 

"We are capitalising on this opportunity with a wide range of technologies, from coatings to catalysts, innovative plastics and fuel additives, all of which benefit the end consumer as well as the environment," said Wolfgang Hapke, president of BASF Asia-Pacific.

 

"As BASF’s second largest revenue source, automotive is one of the company’s most important target industries," the plastics and chemicals manufacturer said.

 

In 2006, more than 10% of the company’s annual sales of €52.6bn ($74.8bn) were derived from the automotive industry.

 

One innovative material from BASF targeted at the automotive market was Basotect, a foam made from melamine resin, which insulated vehicle interiors against engine noise better than conventional materials, it said

 

The company also had several innovations in the pipeline for the market, which included products incorporating nanotechnology, compressed natural gas (CNG) and fuel cell technology, it added.

 

"The solutions aim to find options for flexible production, comfort, and convenience, surface appearance and quality, safety and sustainability," Hapke said.

 

 ($1 = €0.71)

By: Aaron Rodrigues
+65 6780 4359

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