BASF SE : BASF, SINOPEC To Build Additional Plant In Nanjing

In addition to the construction of a superabsorbent polymer plant with China's SINOPEC, Germany's BASF will build a neopentylglycol plant with its joint venture partner in Nanjing, BASF said in a press release Wednesday.

MAIN FACTS:

-Both plants are expected to begin production in 2014.

-Financial details of the new plant being build by the BASF-SINOPEC joint venture, BASF-YPC Co. Ltd., weren't disclosed.

-"This underlines our confidence in the development of the Asia Pacific and China markets," Albert Heuser, President Greater China and Functions Asia Pacific at BASF said. 

(4-traders.com , edited by Topco)