BASF Ready for Asia Takeovers, Brudermueller Tells Frankfurter Allgemeine
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BASF SE is willing and ready to make larger acquisitions in Asia and is exploring some opportunities, Frankfurter Allgemeine Zeitung reported, citing an interview with board member Martin Brudermueller.
Brudermueller, who is responsible for BASF’s Asian operations and is a candidate to succeed Juergen Hambrecht as Chief Executive Officer, defined a larger acquisition target as a company with annual sales of at least 100 million euros, according to the newspaper.
The German chemical maker is considering expanding its Nanjing, China, production site and is examining additional projects for its Malaysian joint venture with Petroliam Nasional Bhd, FAZ said.
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