Germany. The head of Basf's board of executive directors, Kurt Bock, Vice President Martin Brudermüller and CEO Hans-Ulrich presented a plan with which the company plans to strengthen its position in the chemical market.
The company has targets that estimate that global chemical production will grow faster than global domestic product through 2020. In this period, the company expects the global economy to rise by a percentage of 3% per year and do so faster than in the past 10 years, while chemical production is expected to rise by 4% per year.
The executive committee believes Basf's target sales for 2020 will approach $150 billion and will seek to further increase EBITDA by $30 billion in the same period. The company continues with the goal of growing two percentage points above chemical production and thus increasing sales by an average of 6% annually until 2020.
Basf's sales to customers in emerging markets have tripled over the past 10 years and accounted for about one-third of total sales (excluding oil and gas) in 2010. By 2020 the company expects this market to contribute 45% of sales.
