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BASF is the world’s leading chemical company – The Chemical Company. Since its founding in 1865, BASF has continually integrated convention with innovation; shaping the future through chemistry. Our strength lies in chemistry. For more than 140 years, BASF has been leading the chemical innovation. It is chemistry that makes BASF and its customers more and more successful – in the past, present and the future!
According to the 2009 Fortune 500 list for top corporations worldwide, BASF, ranked at 59, is the world’s largest chemical company. It is also the only chemical company among the first 100 corporations in the list. Moreover, for many years, BASF has topped other chemical companies in Fortune’s “Most Admired Companies” list as well. In 2008, BASF was named the leader for chemical sector in Dow Jones Sustainability Index (DJSI World). It is the eighth consecutive year that BASF has been included in this sustainability index.
The origin of BASF and Greater China can be traced back to 1885. Today, BASF has become one of the largest foreign investors in the Chinese chemical industry. The integrated petrochemical site in Nanjing is one of BASF’s six worldwide Verbund sites. BASF and its joint partner, China Petroleum & Chemical Corporation (Sinopec), invested $2.9 billion U.S. dollars on the project and the plants began to operate in mid 2005. In March, 2008, BASF and Sinopec submitted a feasibility study report to the Chinese government for the expansion of the Nanjing Verbund site. In Caojing, Shanghai, BASF has established two joint ventures with its partners to produce MDI (diphenylmethane diisocyanate) and TDI (toluene diisocyanate), the raw materials of Polyurethane. It is a world-class integrated complex with a total investment of $ 1 billion U.S. dollars. Its commercial operations began in mid 2006, with annual production capacities of 240 kt MDI and 160 kt TDI.
For the past decade since 1998, BASF continued to grow rapidly in Greater China, at an average annual sales growth of 20 percent. In 2008, BASF achieved sales of €4.2 billion.
BASF believes that sustainable development is an important factor to maintain long-term competitive advantage. As a sustainable company BASF combines economic success with environmental protection and social responsibility. BASF’s commitment and relentless efforts in promoting sustainable operation in Greater China are recognized by all stakeholders, and is driving the whole industry to fulfill social responsibility.
- On April 23rd, 2009, at the 40th anniversary of World Earth Day, BASF received the award of “2008 China Green Star Benchmark Company”. After receiving the award of "2007 China Green Benchmark Company", BASF, as the only chemical company among the top ten foreign companies short-listed, gained a higher level of recognition in 2008 and became “Star Benchmark Company” for its outstanding performance in environmental protection and in fulfilling corporate social responsibility, and for the significant contributions it made to improve the competitiveness of fulfilling social responsibility by promoting the concept of corporate citizenship along its supply chain;
- According to the ranking issued by a leading national newspaper on December 18th 2008, BASF ranked 10th in the world's top 500 corporations for outstanding contributions in China. It topped the list among all chemical companies, and is the only B2B brand within the first 10 companies;
- On November 7th, 2008, in the forum of "Growing with China – Top Forum of Multinational Corporations in Commemoration of the 30th Anniversary of Reform and Opening up" held in Beijing, BASF was short-listed for "2008 Multinational Corporations in China Contribution List", and achieved second place out of 20 companies for the "Multinational Corporation China Contribution Special Prize";
- On November 7th, 2007, among the 600 companies that entered, BASF was recognized and named "2006 Outstanding Foreign Direct Investment Company in implementing CSR". The award was issued by the China Association of Enterprises with Foreign Investment (CAEFI), together with strong involvement and support from the Ministry of Commerce;
- As one of the most committed multinational companies in China’s chemical industry, BASF (China) Co., Ltd received the "Best Corporate Citizenship Award" issued by the 21st Century Business for four consecutive years from 2005 to 2008… …
Want to know more about BASF’s contribution in social responsibility? Please click here.
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