|Huayuan and BASF Sign Cooperation Agreement|
On September 1, Huayuan Group and BASF (China) signed a strategic cooperation agreement on raw material supply, market expansion, product development, and other aspects of business.
Today, BASF has more than 110,000 employees worldwide, with a total sales revenue of 78.6 bn EUR in 2021. BASF and Huayuan Group have been working together for nearly ten years. According to the Agreement, BASF will continue to provide high-quality raw materials for Huayuan Group, and the two parties will strengthen their cooperation in the fields of metal surface treatment technology, pharmaceutical materials, and green packaging materials.
Lou Jianfeng, chairman and president of BASF (China), said: “Huayuan Group is a leading company in high-end manufacturing, new energy, and new materials in China, and there are many opportunities for the two companies to collaborate. As a strategic partner of Huayuan, BASF will expand the cooperation with Huayuan to better serve our customers in different markets and meet the growing demand for high-quality products from Huayuan.”
Huayuan Group is a state-level company mainly involved in biology and medicine, new energy and new materials, mahogany furniture and wood products, new building materials and construction, cultural tourism, education, and the health industry. In 2021, the sales revenue of Huayuan Group reached 36 bn RMB, with a total profit and tax of 1.5 bn RMB.
Since 1996, Huayuan Group has cooperated with the Chinese Academy of Sciences to successfully develop a vitamin D3 project; it signed a contract with Huawei to take the lead in building a smart garden; it has worked with China Mobile to build a digital company and a future factory; it established a joint R&D center with Zhejiang University; and it signed a strategic cooperation agreement with China Railway Rolling Stock Corporation to empower the Group in high-quality development.
Shao Qinxiang—secretary of the Party Committee of Huayuan United, secretary of the Party Committee and director of the Committee of Huayuan Village, and chairman and president of Huayuan Group—said that Huayuan Group and BASF will leverage the advantages of both parties to expand cooperation and to achieve mutual benefit and common development. (By Wang Jianghong—-Dongyang Daily, translated by Li Ziyi, edited by Kendra Fiddler)