German BASF to invest EUR 2.4mn to expand production in Czech Republic.

By bne IntelliNews April 10, 2012
Czech BASF Stavebni, owned by German chemical concern BASF, will invest CZK 60mn (EUR 2.4mn) to boost production by between 15% and 20%, the company's chief executive Radek Haloda told CTK in an interview. The investment might create up to 20 new jobs. Currently BASF employs 300 people in the Czech Republic. BASF Stavebni reported a 5% rise in last year's turnover to more than EUR 400mn, thanks mainly to the growth in the segment for the production of pesticides and crop protection products. Despite the overall declining construction market, the company hopes to boost its sales by 3% in 2012 due to the wide portfolio of products it offers.

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