Shanghai Gaoqiao BASF Dispersions Co., Ltd., located in the northeastern part of Pudong, is a high-tech chemical joint venture (50:50) between Sinopec and BASF. It was founded in 1986 and currently employs more than 190 people. Its main product is XSB-Latex, a raw material used as binder in paper, carpet, construction, adhesives and non-woven industries.