BASF sales in China up 22.2% in 2007

German chemical group BASF announced that it has achieved sales of about EUR 4.4 billion (US$6.9 billion) in Greater China last year, up 22.2% from the previous year.

China accounts for about half of the company’s sales in Asia pacific, which has a growth rate of 13% last year, said Zheng Daqing, senior vice president and a member of BASF's China country board.

The company will invest ERU 1 billion in Asia till 2009, with half of that going to China, said Wolfgang Hapke, president of BASF Asia Pacific last year.

The company is showcasing its latest innovations and solutions for automotive and packaging at Chinaplas 2008, the largest plastics and rubber industry trade fair in Asia Pacific region held in Shanghai from Apr. 17 to Apr. 20.

Currently, it is has 23 wholly owned subsidiaries and 10 joint ventures in China.