Home / Knowledge / News / Textiles / BASF strategies to become leading chemical company
BASF strategies to become leading chemical company
Nov '11
BASF plans to strengthen its position as the world's leading chemical company. In its further developed strategy “We create chemistry,” the company outlines how it wants to achieve this. The Chairman of BASF's Board of Executive Directors Dr. Kurt Bock, Vice Chairman Dr. Martin Brudermüller and CFO Dr. Hans-Ulrich Engel presented the details at a press conference in Ludwigshafen.

Bock pointed out that the company had achieved its leading position thanks to its successful strategy in the past years: “We will build on this and make a significant contribution to meeting the needs of a growing world population.” BASF sees population growth as a crucial trend that brings on the one hand enormous global challenges, but on the other hand offers many additional opportunities, in particular for the chemical industry.

In accordance with sustainable development, BASF will play a role with regard to conserving resources, ensuring healthy food and nutrition and improving people's quality of life. “We have summarized what we do as a company in our corporate purpose: We create chemistry for a sustainable future,” said Bock.

BASF targets profitable growth
The company has set itself ambitious goals. BASF forecasts that global chemical production will grow faster than global gross domestic product (GDP) through 2020. In this period, the company expects the global economy to grow by an average of 3 percent per year, and thus slightly faster than in the past 10 years, while chemical production is forecast to grow on average by 4 percent per year.

BASF continues to aim to grow 2 percentage points above chemical production and thus increase sales by an average of 6 percent per year until 2020. Overall, BASF targets sales of approximately €115 billion and seeks to further increase profitability to achieve an EBITDA of €23 billion in 2020.

BASF adds value as one company
BASF supplies products and solutions to almost all industries. Its portfolio ranges from oil and gas, classical chemical businesses and customized products to functionalized materials and solutions.

“The scope of skills and know-how that we combine under one roof is what sets us apart from our competitors. These factors include our innovative strength, our broad technology basis, our operational excellence and our global access to relevant customer industries,” said Bock. “We add value as one company by combining these strengths.”

BASF's unique Verbund system offers enormous competitive advantages. The company will further develop this sophisticated and profitable system, which extends from production and technology to customers. In addition, BASF will sharpen its focus on customer industries. Committed, well-trained employees ensure that the entire Verbund functions efficiently worldwide.

Innovations for a sustainable future
Innovations from the chemical industry nowadays rarely rely on the development of new chemicals. Instead, new materials and system solutions are created by combining know-how from a variety of disciplines.

Must ReadView All

Textiles | On 25th Oct 2016

Arvind to dilute 10% stake in brand business arm

Arvind Limited, one of India’s largest integrated textile and apparel ...

Courtesy: Commonwealth Bank of Australia

Textiles | On 25th Oct 2016

World’s first cotton shipment using Skuchain’s Brackets

The world’s first trade transaction involving shipment of cotton...

Textiles | On 25th Oct 2016

Cotton yield to increase to 568.29 kg/ha in 2016-17: CAB

At its first meeting for the cotton season 2016-17, the Cotton...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search