BASF to boost operations in region

Global chemicals giant BASF plans to invest €10 billion (HK$101 billion) on production and research facilities in the Asia-Pacific by 2020 to help achieve its goal to double sales.

The company, based in Germany, has seen two years of lower profits amid more competition.

To become more competitive, it plans to produce more products domestically to save transport costs and become more responsive to customers' needs. It also aims to save €1 billion by improving operational efficiency and organisational effectiveness.

via Business feed http://www.scmp.com/business/companies/article/1253642/basf-boost-operations-region