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BASF officially launched its smart Verbund project in China

  12/2/2019 - Guangdong, China - BASF officially launched its smart Verbund project in Zhanjiang, Guangdong province, China, and commenced building its first plants. It marks a milestone of the company’s US$10 billion investment project announced in July 2018. The first plants will produce engineering plastics and thermoplastic polyurethane (TPU) to serve the increasing needs of various growth industries in the southern China market and throughout Asia. “We are pleased to see our mega-investment project in China is progressing,” said Dr. Martin Brudermüller, Chairman of the Board of Executive Directors, BASF SE. “We are determined to support our customers in southern China drive growth with innovative products and sustainable solutions.” “By utilizing the latest digital technologies and applying the highest safety standards, the new Verbund site will be a role model for sustainable production contributing to the development of a circular economy in China,” added Brudermüller. “Zhanjiang is a perfect location for BASF to further strengthen our footprint of local production in China,” said Dr. Stephan Kothrade, President Asia Pacific Functions, President and Chairman Greater China, BASF. “The smart Verbund site will form a solid foundation for a world-class industrial cluster in Zhanjiang and establish stronger business connections between South China and other Asian countries.” By 2022, the new engineering plastics compounding plant will supply an additional capacity of 60,000 metric tons per year in China, bringing BASF’s total capacity of these products in Asia Pacific to 290,000 metric tons per year. The new capacity will enable BASF to meet the growing demand of its customers, particularly in the automotive, electronics and new energy vehicles (NEV) industries. BASF plans to implement a comprehensive smart manufacturing concept at the Verbund site based on cutting-edge technologies. The new site will utilize automated packaging, high-tech control systems, and automated guided vehicles. With the Zhanjiang Verbund site, BASF will also contribute to the advancement of the local community. The company is forming strategic partnerships with several local technical institutions to develop young technical talents. BASF Integrated Site (Guangdong) Co. Ltd, BASF’s new wholly-owned subsidiary, has also been officially formed. This entity will oversee the operations of the new Verbund site, underlining BASF’s commitment to the China market. BASF signed the first Memorandum of Understanding for the Verbund site with the Guangdong Provincial Government in Berlin, Germany, in July 2018. In January 2019, the company signed a Framework Agreement setting out further details of the plan. The Verbund site in Guangdong would be BASF’s largest investment, estimated up to US$10 billion upon completion, and would be operated under the sole responsibility of BASF. The integrated value chain will connect upstream and downstream plants from basic chemicals to more consumer-oriented products and solutions, serving growth sectors like consumer goods and transportation. The site would ultimately be the third-largest BASF site worldwide, following Ludwigshafen, Germany, and Antwerp, Belgium. The first plant producing engineering plastics compounds is expected to be operational by 2022, and the whole Verbund site is planned to be completed by 2030.

Monday, December 16, 2019

Global automotive tires market is expected to grow at a CAGR of 8.22% through 2024 - click to expand

Hundreds take buyout at Goodyear's Gadsden, AL plant - click to expand

Global emulsion polymers market size expected to reach $53.7 billion by 2025 - click to expand

Fraunhofer IAP and KETI strengthen cooperation on high-performance polymer materials - click to expand

Troester will exhibit at Tire Technology Expo 2020 in February - click to expand

New Goodyear blimp exhibit debuts at College Football Hall of Fame - click to expand

Friday, December 13, 2019

Global elastomer coated fabrics market forecast at $12 billion by 2024 - click to expand

Book of the Day: Rubber & Tire Technology, Volume 1 - click to expand

Wittmann Battenfeld delivers 40,000th molding machine manufactured at Austrian plant - click to expand

Cooper Tire's Tread Wisely program helps young drivers prepare for safe winter driving - click to expand

Greene Tweed participates in MidAtlantic Rubber and Plastics Group educational symposium at Lehigh University - click to expand

Thursday, December 12, 2019

Medical injection molding market size worth $1.83 billion by 2026 - click to expand

Midwest Composite Technologies acquires ICOMold - click to expand

Silicone Elastomers and TPE World Summits abstract deadline is January 10 - click to expand

Deadline for Rubber Division, ACS technical training and scholarship opportunities is March 1 - click to expand

Global silicone market size forecast with a CAGR of 7 percent through 2024 - click to expand

Wednesday, December 11, 2019

Kenneth L. Bloom appointed president of Hexpol Compounding Americas - click to expand

Global plasticizers market forecast at $16.7 billion by 2024 - click to expand

Toyo Tires to sell half its stock holdings in Bridgestone - click to expand

XG Sciences and Perpetuus partner to supply graphene to the North American tire markets - click to expand

Goodyear elects Hera Kitwan Siu to board of directors - click to expand

Tuesday, December 10, 2019

AirBoss welcomes David Camilleri to board of directors - click to expand

Toyo Tire launches the Nanoenergy M176 truck and bus tire - click to expand

GRI acquires Australian industrial tire specialist Axis Tyres - click to expand

ARPM releases annual wage and salary report - click to expand

Steelastic names James Vogel president - click to expand

Specialty hose market forecast to reach $2.3 billion by 2025 - click to expand

Kenneth L. Bloom appointed president of Hexpol Compounding Americas - click to expand

Monday, December 9, 2019

Wacker launches two anti-misting silicone release coatings for high-speed coaters - click to expand

Dunlop Sport Maxx tires are factory standard on Subaru S209 - click to expand

Denray Tire will join Michelin Retread Technologies - click to expand

Bridgestone plans to create Bridgestone Innovation Park in Kodaira, Japan - click to expand

Global nitrile butadiene rubber (NBR) latex market forecast with a CAGR of 15.4 percent - click to expand

Market Reports

Global automotive tires market is expected to grow at a CAGR of 8.22% through 2024 - click to expand

Global Emulsion Polymers Market size is expected to reach $53.7 billion by 2025 - click to expand

Global elastomer coated fabrics market forecast at $12 billion by 2024 - click to expand

Global silicone market size forecast with at CAGR of 7% through 2024 - click to expand

Medical injection molding market size worth $1.83 billion by 2026 - click to expand

Global plasticizers market forecast at $16.7 billion by 2024 - click to expand

Specialty hose market forecast to reach $2.3 billion by 2025 - click to expand

Global nitrile butadiene rubber (NBR) latex market forecast with a CAGR of 15.4% - click to expand

Automotive tubeless tire market forecast at $196 billion by 2024 - click to expand

November forecast shows U.S. tire shipments expected to increase in 2019 - click to expand

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