BASF CEO: Growth driver for chemistry is and remains Asia

German chemical giant BASF confirms its future stake in Asia Ludwigshafen (Germany), 2 May (dpa) – The German chemical group BASF today reiterated its commitment to Asia as the main market to secure the future of the company, with China as the center of its strategy. “Asia is and will continue to be the engine of the growth of the chemical industry,” said Director General Markus Kamieth, at the virtual general meeting of the company listed on th…

In Europe and North America, the chemical giant expects only weak growth. This also affects the Ludwigshafen plant. BASF CEO Kalieh sees risks in US tariffs - and relies on Asia.

In addition to China, the chemical group India, Indonesia, Malaysia, Singapore, Thailand and Vietnam take a closer look.

In Europe and North America, the chemical giant expects only weak growth for the industry. In these markets, the task is to exploit the capacities. This is precisely the Ludwigshafen site.

The chemical giant wants to become more profitable and competitive. For this, Ludwigshafeners have to save heavily. BASF CEO Kamieth has to prepare himself for critical issues of the shareholders.