LUDWIGSHAFEN, Germany (AFX) - Chemicals giant BASF AG said it has established a new global business unit, Specialty Polymers & Special Foams, to group together its specialty plastics products under a single umbrella.
The company said specialties are showing average yearly growth of around 8 pct, chiefly in the Far East. BASF has set a 10 pct target for annual growth of specialty products.
"Specialties are mainly used in innovation-driven markets, so the business unit intends to achieve 20 pct of its sales revenue through innovation," said the company.
ragnhild.kjetland@afxnews.com
rkj/har
COPYRIGHT
Copyright AFX News Limited 2005. All rights reserved.
The copying, republication or redistribution of AFX News content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
AFX News and the AFX Financial News logo are registered trademarks of AFX News Limited
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
The company said specialties are showing average yearly growth of around 8 pct, chiefly in the Far East. BASF has set a 10 pct target for annual growth of specialty products.
"Specialties are mainly used in innovation-driven markets, so the business unit intends to achieve 20 pct of its sales revenue through innovation," said the company.
ragnhild.kjetland@afxnews.com
rkj/har
COPYRIGHT
Copyright AFX News Limited 2005. All rights reserved.
The copying, republication or redistribution of AFX News content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
AFX News and the AFX Financial News logo are registered trademarks of AFX News Limited
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
© 2005 AFX News
