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BASF sets up a subsidiary in Vietnam
Apr. 24, 2009
BASF, the worlds largest chemical company, has set up a subsidiary in Vietnam. BASF Vietnam Co. Ltd. will target growth industries in Viet Nam, including electrical and electronics, construction, footwear, crop protection, plastic and packaging, petrochemicals, animal and human nutrition as well as coatings.
"Viet Nam is a key market for BASF in the ASEAN subregion, and its dynamic economy offers good growth opportunities. We therefore want to establish a stronger presence so that we are closer to our customers and better able to serve them," said Tilman Krauch, president for regional functions and country management in the Asia Pacific for Ludwigshafen-based BASF.
"This is both a timely and strategic move. Over the recent years, our business in Viet Nam has grown rapidly. With the formation of BASF Vietnam, we will become more market-focused and more aligned in our product and solution offerings for specific customer industries," added John Fastier, managing director for the ASEAN region for BASF South East Asia Pte Ltd.
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