Midrand, South Africa -- BASF has opened a new regional office in Lagos, Nigeria, to meet the needs of the "booming" construction sector there.
The office, which opened 24 July, will serve Nigeria and other West African countries. BASF said its target is to more than double sales in Africa by 2020. Its sales, excluding oil and gas, were around Euro 1 billion ($1.2 billion) in 2011.
"Africa is a huge continent with a wealth of raw materials and a growing population. At the same time, the dynamically growing economy has enormous potential for BASF. Through establishing a local presence in Nigeria we will be able to much better understand our customers' needs and to enhance BASF's market position", said Jacques Delmoitiez, President, BASF Europe, the Middle East and Africa, in a 24 July news release.
One of the key markets for BASF in Nigeria is the construction sector. BASF said its polyurethane products such as foam for insulated panels and spray foam systems help to reduce energy bills and add to the comfort of private homes and commercial buildings.
Other important markets include appliances, mining, footwear and high quality mattresses, BASF said, as well as decorative paints, dispersions, pigments and formulating additives.
PIC: l-r German Ambassador to Nigeria Dorothee Janetzue-Denzel; Lagos State Commissioner for commerce and industry, Olusola Oworu; and BASF President, Europe, Middle East & Africa, Jacques Delmoitiez, at the official launch and inauguration of the BASF West Africa sales office in Lagos