Australia has committed to cutting greenhouse gas emissions 5%-15% by 2020 compared with 2000 levels. The main feature of the program is an emissions trading scheme (ETS), due to start in mid-2010, covering 75% of Australia’s emissions of carbon dioxide (CO)
2
equivalent. About 1,000 companies will participate in the ETS with emission permits purchased at auction or allocated free of charge.
Australia’s is the biggest emission-reduction scheme to be announced by a government outside Europe. Australia ratified the Kyoto Protocol in November 2007. The Australian government expects the plan to trim 0.1 percentage points off the country’s annual GDP growth in 2010-50, assuming an initial permit price of A$25/m.t. ($16.50). Australia is the world’s biggest emitter of CO in per
2
capita terms. The program disappoints environmentalists, who had called for a 25% cut in emissions. —IY
ASIA/PACIFIC
BASF says it has acquired the concrete admixture business of Kejie Admixture Science & Technology Co. (Guangzhou, China), for an undisclosed amount. Kejie produces a wide range of concrete admixtures and intermediate products.
e acquisition extends BASF’s admixture production network to southern China, the company says. BASF operates admixture units in eastern, northern, and western China. e company acquired admixture businesses at Beijing in 2005, and at Chengdu and Suzhou in 2006.
Kejie’s production plant will be BASF’s 13th construction chemicals unit in China. e deal “strengthens BASF as the market leader in the Chinese construction chemicals industry,” says Mark Volmer, v.p./construction
chemicals, Asia/Pacific at BASF. e company has worldwide construction chemical sales of about € 2. 1 billion/year ($2.8 billion).
Separately, BASF has signed an exclusive agreement with Eason Paint (Chonburi, ailand), under which Eason will toll manufacture coatings for BASF. Coatings produced by Eason for BASF will be supplied to manufacturers of cars and motorcycles, and to other industrial companies across the Asean region.
e deal with Eason follows BASF’s agreement to acquire full ownership of NOF ailand’s motorcycle coatings business. e business markets motorcycle paints manufactured by Eason to Japanese motorcycle manufacturers in ailand. It is a 51-40-9 joint venture among Eason, BASF, and Miki (Bangkok). —IAN YOUNG
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