BASF starts first Caspian-region branch in Azerbaijan

Sumgait Executive Committee told APA that the enterprise produces construction materials. The enterprise employs some 60 people and plans to double the workforce in the nearest future.

The enterprise Director General Umid Bashdashi said the enterprise produces over 40 products and has a capacity of 6,000 tons annually. He said it is the first BASF subsidiary in the South Caucasus and the Caspian region while BASF operates in over 100 countries. Ludwigshafen-based BASF has customers in over 170 countries and supplies about 8,000 products to a wide variety of industries.

At the end of 2006, the company employed more than 95,000 people, with over 47,000 in Germany alone. In 2006, BASF posted sales of ?52.6 billion and income from operations before special items of over ?6.7 billion. The company is currently expanding its international activities with a particular focus on Asia.

BASF produces a wide range of chemicals, for example solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals and inorganic chemicals. The most important customers for this segment are the pharmaceutical, construction, textile and automotive industries.

72% of the BASF shares are held by institutional investors (AXA SA more than 5%, Allianz AG 2.6% and General Capital Group 2.1%). 45 % of the shares are held in Germany, 17.3 % in the UK and 13.5 % in the U.S.

BASF representatives are expected to visit Azerbaijan on May 3-7 to attend the event on the 30-year fraternal relations between Ludwigshafen and Sumgait.