Shanghai, China - BASF broke ground on an additional R&D building and auxiliary facilities with EUR90m ($121m) investment on 28 July, 2014 at its Innovation Campus Asia Pacific in Pudong, Shanghai.
The Campus was inaugurated in November, 2012 and this is its second phase project, expected to be completed by the end of 2015.
The expansion focuses primarily on advanced materials and systems and is also adding new areas including formulations and chemical process and engineering, serving sectors such as automotive, construction, health and nutrition, and home and personal care.
“By 2020, around 25% of BASF’s R&D employees will be located in Asia Pacific,” said Andreas Kreimeyer, member of the Board of Executive Directors of BASF SE and research executive director.
BASF's research sites in Asia also include centres in Japan, Singapore and Korea, with an Innovation Campus in India under planning, said the company's announcement. In 2013 BASF's global research spending rose by 6% to EUR1.8bn.
XE Currency Conversion: 30 July, 2014
