Welcome letter from the president
2017 was a fruitful year for BASF Greater China: we have achieved considerable economic success, while continuously fulfilling our commitment to environment and society.
Thanks to an excellent market environment, we were able to fully utilize the capacity of the assets we have built up over recent years, reaching a record high of €7.3 billion sales in 2017 to customers in Greater China.
To further boost our local production capabilities, we opened four new production plants, in Shanghai and Nanjing, to provide solutions for the chemical, automotive, water treatment and papermaking, as well as personal care industries. Through the planned global acquisitions of Bayer’s seed and non-selective herbicide businesses and Solvay’s polyamide business, our enhanced product portfolio will help us gain access to new market segments and customers.
We continue to drive innovation through investment in market-oriented research and development (R&D). Adding to our existing R&D facilities, the first Asia Pacific Automotive Application Center will be opened at our Innovation Campus Shanghai. Leveraging our growing R&D capabilities and BASF’s global Know-How Verbund, we have extended our collaboration with our customers in China to create innovative solutions for China and the world.
Safety remains the highest priority for us. We build our plants according to BASF’s high global standards of safety at all sites and facilities in Greater China. We continue to optimize operational efficiency and foster a safety culture in the plants and at office environment. In 2017, we improved our Lost Time Injury rate in Greater China, at 0.3 (0.5 in 2016).
We strive to be a responsible member of the communities where we operate by supporting our neighbors, employees and their families through various social engagement projects. To maintain an open and transparent dialog with different stakeholder groups, we hold regular exchange sessions about operational, environmental and social topics.
China is undergoing the process of “supply side reform” in its manufacturing industries, while the environmental regulatory framework continues to develop. We expect continued volatility and increased competition in the chemical market. However, as a committed partner to Greater China since 1885, BASF sees more opportunities rather than challenges. We will focus on our customers’ needs, collaborate even more closely with all stakeholders to achieve profitable growth, and contribute to a sustainable future.