BASF aims to double Africa sales to more than €2bn by 2020

07 December 2011 15:08  [Source: ICIS news]

LONDON (ICIS)--BASF aims to more than double its sales in Africa by 2020 as it sees “enormous potential” in that continent’s growing economy, the Germany-based chemicals major said on Wednesday.

BASF’s sales in Africa were about €1bn ($1.3bn) in 2010, excluding sales by BASF’s Wintershall oil and gas business, which has operations in Libya.

“Africa is a huge continent with a wealth of raw materials and a growing population,” said Jacques Delmoitiez, BASF president with responsibility for the company’s business in Europe, the Middle East and Africa.

“Through establishing a stronger local presence we will be able to even further support our customers and to enhance BASF's market position,” Delmoitiez added.

The company also announced it would open another office in Nairobi, Kenya, to serve customers in East Africa and Sub-Sahara.

Peter van den Hoek, head of newly established unit Market Development Africa, will be managing director of the Nairobi-based subsidiary BASF East Africa.

BASF’s chemicals business in Africa aims to benefit from the booming construction industry in the urban areas of East Africa. Another focus for BASF in Africa will be crop protection products.

At the same time, BASF is expanding its business in the African consumer sector with products such as ingredients for personal care products and laundry detergents, as well as pharmaceutical ingredients.

 “Here, the company is profiting from a growing middle class with rising consumer aspirations,” said BASF, which is also supporting a number of social projects in Africa.

BASF currently employs more than 1,000 people in Africa, excluding the Wintershall business.

In North Africa, the company is represented in Egypt, Algeria, Morocco and Tunisia.

In South Africa, BASF has production facilities for emission catalysts, construction chemicals, coil coatings and polyurethane plastics.

The company also has a production site for dispersions under construction at Durban, with completion expected in the second half of 2012.

($1 = €0.75)

For more on BASF and other producers visit ICIS company intelligence

By: Stefan Baumgarten
+1 713 525 2653

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