23 May 2013 08:15 [Source: ICIS news]
SINGAPORE (ICIS)--BASF is building a new 10,000 tonne/year formulation and packaging plant for crop protection products at Rudong in Jiangsu Province, China, the German chemicals major said on Thursday.
The company will begin construction of the plant, which will be sited at the Yangkou Chemical Industrial Park, in June this year, said Markus Heldt, president of BASF Crop Protection, at a media event in Singapore.
The plant is expected to be fully operational in 2014 and will produce BASF’s range of fungicides, insecticides and herbicides, he said.
BASF’s total research & development (R&D) expenditure at its crop protection unit has grown at an annual average rate of 7% since 2008.
In 2012, the total R&D expenditure for the crop protection business amounted to €430m ($551m), compared with €412m in 2011 and €325m in 2008, according to Heldt.
Agricultural solutions accounted for 25%, or about €430m, of BASF’s overall R&D expenditures last year, he said.
BASF’s crop protection sales have grown at an compounded annual growth rate (CAGR) of 14% since 2008, Heldt said.
“India and Japan are among the top 10 sales countries for BASF… And we are confident that China will also be one of the stars down the road,” he added.
Meanwhile, the company said that it is evaluating a second technical R&D centre for its crop protection business in India, to complement the existing one in Shanghai, Heldt said.
($1 = €0.78)
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