LUDWIGSHAFEN (dpa-AFX) - German chemical giant BASF SE (BFA.L, BASFY.PK) Thursday said it will expand its emollients and waxes production capacity with a new plant at its site in Jinshan, Shanghai, aiming to meet rising demand in Asia Pacific personal care market.
The investment, complementing the current production of wax esters, emulsifiers and primary surfactants in Jinshan, will further enhance BASF's local production.
The company has also planned the start-up of additional production facility in the first quarter of 2017.
With easy access to BASF Innovation Campus Asia Pacific (Shanghai), which is BASF's largest research site in Asia Pacific, the additional facility will enable close collaboration in the development of innovative products meeting specific Asian personal care needs, the company said.
In Germany, BASF shares were trading at 70.89 euros, down 0.31 percent.
Copyright RTT News/dpa-AFX