BASF nets N24.7tr as turnover in 2017

BADISCHE Anilin- und Soda-Fabrik (BASF), the largest chemical producer in the world, has posted a record turnover of N24.7trillion (€60 billion) in 2017. The German chemical company, however, launched its personal care technology laboratory in Nigeria for the benefits of manufacturers, energy experts, beauticians and others.

With the establishment of local competence in application and formulation technology, BASF commissioned its local technical service for African hair and skin care applications throughout sub-Saharan Africa. At the same time, the company strengthens its network of local expertise in marketing and sales in the region.

Speaking to the Nigerian Tribune on the sideline of the launching on Thursday, the Vice President, Personal Care Solutions Europe, Dirk Mampe, stated that “BASF generated sales of more than €60 billion (N24.7trillion) in 2017 and that its shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (BAS).

“Customized solutions meeting the specific requirements of consumers in different markets are keys for business growth. With our broadened presence and the investment in a new Application Laboratory in sub-Saharan Africa, we can provide on-site technical expertise and market insights to our customers and support the local development of tailor-made products for the specific needs of African hair and skin.”

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Consumers’ personal care regimens, including hair and skin, vary widely across regions, hence, necessitating tailored cosmetic products.

“The expansion of BASF’s operations in West Africa, including the opening of this new Personal Care Application Laboratory, clearly demonstrates BASF’s commitment to West Africa and the confidence we have in Nigeria and the whole region,” said Jean-Marc Ricca, Managing Director, of BASF West Africa.

The new laboratory is also part of BASF’s global application technology network in 21 countries. Being at the pulse of the sub-Saharan African personal care market, the local BASF team will support customers in the creation of both hair and skin care applications for African consumers to answer specific needs and trends.

BASF creates chemistry for a sustainable future. “We combine economic success with environmental protection and social responsibility. The more than 115,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions,” he said.