|nAs a company that operates throughout the
world, BASF sees globalization as an opportunity. BASF is expanding its
worldwide presence with new production and distribution sites to meet
|nIn addition to its close ties to customers and
suppliers, BASF is also conscious of its responsibilities as a transnational
company operating in many countries with different governmental, economic and
social structures. BASF maintains an open dialogue with its employees about
these differences with the goal of being recognized as a company that takes
its responsibilities seriously.
|nExpanding the network of Verbund sites in major
economic regions of the world is particularly important to BASF’s
globalization strategy. In its home market of Europe, BASF has Verbund sites
at its original site in Ludwigshafen as well as in Antwerp, Belgium, and
|nBASF’s primary objective is to increase the
contribution of growth markets to the company’s sales and earnings. In North
America, BASF has moved considerably closer to this target and has grown
faster than the market. The cornerstone of this success are the two Verbund
sites in Freeport, Texas, and Geismar, Louisiana.
|nBASF is also pursuing the same strategy in Asia. A
Verbund site started up operations in Kuantan, Malaysia, in mid-2000, and a
second site is expected to start up in Nanjing, China, in 2005.