Within the next five years, Germany's chemical giant BASF plans to invest more than 200 million euros globally into its plastic additives business, approximately half of which in Asia, focusing on capacity expansions and operational excellence.
Plastic additives improve product properties such as scratch resistance or light stability and optimize plastics manufacturing processes.
"BASF will strengthen its plastic additives business with investments in additional capacities to meet increasing global demand for antioxidants, as well as light stabilizers," said Dr. Christian Fischer, President of BASF Performance Chemicals division. "Moreover, we will invest in digital processes and technology to support our customers as a reliable supplier in all regions."
The planned set of measures focuses on capacity expansions at sites in North America and Europe as well as investments in automation, digital technologies and modeling. In addition, BASF plans to strengthen its plastic additives production footprint in Asia.
