BASF and Boao sign agreement to develop polyurethane system solutions for China’s construction and automotive industries
- Successful collaboration with leading automotive parts producer extended to the development of energy efficient solutions for constructio
Shanghai, China – March 19, 2019 – BASF has signed a strategic cooperation agreement with leading automotive parts manufacturer Chongqing BOAO Industrial Co., Ltd. (“Boao”), to collaborate on the development of polyurethane (PU) system products in China.
“We are delighted to be cooperating with our long-term partner, BASF, to explore new PU composite applications for the construction industry,” said Mr. Wang Wuyang, Chairman, Boao Group. Both parties will also continue to explore the development of new PU systems for structural parts in the automotive industry.
Under the terms of the cooperation, BASF will provide materials and technical knowledge, while Boao will focus on applications and product development. Together, the two parties will also advocate the use of polyurethane systems in construction, and foster opportunities for market promotion.
“Fueled by the strong growth of the construction industry, there is an increasing demand in China for composite products that provide superior insulation for energy efficiency, and excellent impact resistance for demanding structural applications,” said Andy Postlethwaite, Senior Vice President, Performance Materials Asia Pacific, BASF.
As a leading producer of automotive parts, Boao has been collaborating with BASF since 2003 on the development of polyurethane materials in automotive seating solutions.
About BASF’s Performance Materials division
BASF’s Performance Materials division encompasses the entire materials know-how of BASF regarding innovative, customized plastics under one roof. Globally active in four major industry sectors – transportation, construction, industrial applications and consumer goods – the division has a strong portfolio of products and services combined with a deep understanding of application-oriented system solutions. Key drivers of profitability and growth are our close collaboration with customers and a clear focus on solutions. Strong capabilities in R&D provide the basis to develop innovative products and applications. In 2018, the Performance Materials division achieved global sales of €7.65 bn. More information online: www.plastics.basf.com.
About BASF
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The approximately 122,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of around €63 billion in 2018. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (BAS). Further information at www.basf.com.
