GERMANY'S BASF strengthened its market presence in the personal care chemical sector - products related to daily life - in Asia by launching three development centers yesterday in Shanghai.
The centers focus on new applications development and offer high levels of local technical services in personal care, pharmaceutical and beverage industries to business customers, group vice president Christian Fischer said.
BASF invested more than one million euros (US$1.49 million) in the complex in Jinqiao, Pudong New Area, to bring the three centers under one roof, he told a press conference.
For every sector, Fischer cited robust local demand growth for its decision to set up the research facilities here.
They include the double-digit market growth rate for cosmetics in Asia, the 15-percent annual growth in China's pharmaceutical market which could be worth more than US$30 billion by 2010, as well as the 10-plus percent annual rise in the Chinese beverage industry.
BASF China Chairman Johnny Kwan added that the centers could help customers, for example cosmetic makers, win more market share by offering an extensive range of cosmetic polymers and solutions.
The pharmaceutical centers will also look at producing traditional Chinese medicines in the forms of capsules or tablets, a strategy seen as having huge market potential in China.
"I believe the care chemicals development centers will enable us to bring our products and system solutions faster to the market while creating additional potential," Fischer said.