BASF, Lafarge to set up Iraq construction chemicals JV
Dubai, June 11, 2014
BASF, one of the world’s leading producers of construction chemicals, has joined hands with cement and concrete materials leader Lafarge to set up a new plant for the production and marketing of construction chemicals in the autonomous Iraqi region of Kurdistan.
The duo, which has been working together successfully for many years, recently signed the contract for establishing the joint venture in Erbil.
BASF said the new production site will mainly produce concrete admixtures and cement additives. The company will then offer its comprehensive product portfolio of construction chemicals to the local market.
For BASF, the joint venture offers the opportunity to further tap into Iraq‘s growth market together with a strong partner who is already well-established in the region, said a senior official.
"This initiative clearly represents BASF’s interest and commitment to the Middle East," stated Dick Purchase, the head of BASF Construction Chemicals division in Middle East, West Asia, CIS & Africa.
“With this joint venture, we are fulfilling our Master Builders Solutions promise of connectedness by being closer to our clients, providing our innovative and sustainable solutions, and creating new job opportunities in the region,” he added.
Under the Master Builders Solutions brand, BASF bundles its advanced chemical solutions for new construction, maintenance, repair and renovation of structures. It is built on the experience gained from over 100 years in the construction industry.
BASF's portfolio, said Purchase, ranges from chemicals, plastics, performance products and crop protection products to oil and gas.
"We combine economic success with environmental protection and social responsibility. Through science and innovation, we enable our customers in nearly every industry to meet the current and future needs of society. Our products and solutions contribute to conserving resources, ensuring nutrition and improving quality of life," he noted.
BASF had sales of about 74 billion euros ($100.3 billion) last year and over 112,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt, London and Zurich.-TradeArabia News Service