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7/5/12

German BASF continues to invest in Flanders, Belgium

German chemical concern BASF has announced its intention to invest between EUR 150 and 200 million in its subsidiary in Antwerp (Flanders) in 2012. The company board called the site one of the cornerstones of the group.

The lofty words and promised investments are indicative of the confidence BASF’s has in its facilities in Antwerp (Flanders). Wouter De Geest, CEO of BASF Antwerp, explains: “We have a very strong strategic position in the group. BASF Antwerp is more stable than ever. We keep receiving replacement investments, which include modernizations and limited expansions.” In 2012, the group also wants to employ at least 250 extra people – the same amount as last year.

In 2011, BASF Antwerp posted a 15 per cent increase in revenue for FY 2011 2011, bringing total turnover to EUR 7 billion. This makes it the second largest company in the region – after ExxonMobil. BASFs profit in Antwerp grew by no less than 41 per cent last year, totaling EUR 897 million. In Antwerp, BASF has about 50 production units and 3,300 employees.

 EU-Digest

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