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BASF Aims to Ride China's Economic Growth Wave

7:34 AM MDT | June 22, 2010 | Natasha Alperowicz in Frankenthal, Germany

China is the "Mecca of hope for the global economy," says Martin Brudermueller, board member and deputy chairman-elect at BASF. Speaking at a pre-K plastics show press briefing, currently taking place at Frankenthal, Germany, Brudermueller said that the Chinese government's huge stimulus spending is very much concentrated on domestic consumption. "That is good for the global market and also for BASF." Excluding oil and gas, 20% of BASF's sales and earnings will be derived in Asia by 2020, and BASF's sales in Asia will more than double to...

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