BASF unveils innovation campus in Shanghai

BASF SE, the world's biggest chemical maker, has inaugurated its new innovation campus for the Asia-Pacific region, in Shanghai's Pudong.

The campus, its first in the region, is part of the German company's 55 million euro ($70 million) expansion project in Pudong, which also includes a new China headquarters building.

"This is a milestone in BASF's history, to set up such an innovation campus in China with the aim of strengthening R&D activities within Asia-Pacific," said Vice Chairman Martin Brudermueller on Tuesday.

He said researchers at the campus will focus on advanced material and sustainable solutions, with applications including sustainable construction, energy efficient lighting, footwear, and biobased personal care.

Around 450 researchers and developers in technical teams from 17 regional business units will come together during the first phase of the campus' development, added Andreas Kreimeyer, its research executive director.

"By 2020, we expect to have about 25 percent of our global R&D headcount in this region."

He said BASF had injected 1.7 billion euros into R&D this year, exceeding last year's 1.6 billion euros.

BASF expects to create annual sales of 30 billion euros from innovation products by 2020, based on its investment in R&D, with 10 percent of that coming from China, said Brudermueller.