Shanghai, China – BASF and Huafon Group signed strategic cooperation agreement in May to develop the polyurethane, bio-fibre and elastane markets in China.
BASF and Huafon join forces in China's elastane arena
The two companies, having been working together for over two decades, will join forces in technical exchange, market development and raw material supply, said BASF’s press release.
‘At BASF we innovate to make our customers more successful. This includes providing support to help our customers grow,’ said Sanjeev Gandhi.Gandhi is BASF’s executive director responsible for Asia Pacific.
The polyurethane partnership will focus on western China, added the press release. The two firms will also develop specialty fibre and bio-content fibre for clothes. Additionally, BASF and Huafon will team up in elastane technology, intermediate products and industrial digitalisation.
Huafon is one of China’s largest conglomerates in the polyurethane sector with production sites in 11 provinces and cities. It has 11,000 employees and CNY 35.4bn ($5.6bn) total assets.
‘With this strategic cooperation, Huafon has reached another milestone in becoming an innovative, sustainable and global company,’ said Huafon’s chairman You Xiaoping.
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