05 April 2001
05 April 2001
BASF has established a new company-BASF Future Business GmbH-with the goal of more quickly developing specific new business areas. The company will focus on high-growth markets and future challenges which can be met through solutions based on innovative chemistry. In doing so, BASF Future Business GmbH will work with partners both inside and outside the BASF Group. The company will have a EUR100 million seed capital fund with which to finance new ventures, for example, in the field of materials science. The purpose of the fund is to gain access to new technologies and to achieve above-average returns with a clear risk management strategy.
Finding solutions today to tomorrow's problems "The establishment of BASF Future Business GmbH is another dimension of our business strategy of generating value through growth and innovation," said Dr. Stefan Marcinowski, BASF's Research Executive Director. "We want to use the new company to work to find solutions today that will open up new business areas for us tomorrow and give us access to new customers. BASF Future Business GmbH will be active in areas in which we see potential for our chemical expertise, but which are currently outside of BASF's traditional markets," continued Dr. Marcinowski. Examples include providing drinking water, communication and information technology as well as the broad field of nanotechnology. "Wherever possible we want to maximize added value by offering complete solutions as a system supplier," Dr. Marcinowski added. BASF Future Business GmbH will also develop production and marketing strategies. "The company will be responsible for the entire marketing process, not just for developing the technological basis."
The managing director of BASF Future Business GmbH is Dr. Karl-Rudolf Kurtz, formerly head of special polymers research at BASF. In the medium term, the company, which is based in Ludwigshafen, is expected to employ about ten people, who will concentrate on identifying and managing promising projects. Bringing research success more quickly to market Parallel to the formation of BASF Future Business GmbH, new units within BASF's current operating divisions will be established as part of the further development of BASF's organization. The units will be responsible for expanding existing activities and finding applications for new research.
"These units will be in a better position to exploit new developments, something that our existing business units, which are mainly responsible for large-volume products, often find difficult," explained Dr. Marcinowski. The new units will be active in product areas such as performance chemicals, dispersions, fine chemicals, intermediates and plastics.
BASF is a transnational chemical company that aims to increase and sustain its corporate value through growth and innovation.