OK
The Universal Selection Source:
Coatings Ingredients
Industry News

BASF to Acquire Automotive Refinish Coatings Assets of Guangdong Yinfan Chemistry

Published on 2016-04-20. Author : SpecialChem

LUDWIGSHAFEN, Germany / HONG KONG / SHANGHAI, China -- BASF has signed an agreement to acquire the assets of Guangdong Yinfan Chemistry Co., Ltd. (“Yinfan”) in China. With this acquisition, BASF will establish a stronger coatings production footprint by gaining access to a state-of-the-art automotive refinish coatings plant in China. It will also enable BASF to broaden its automotive refinish portfolio in Asia Pacific by adding the Yinfan line of products to its successful global brands including Glasurit®, R-M®, baslac® and Norbin®.

Fig. 1: BASF to Acquire Automotive Refinish Coatings
Assets of Guangdong Yinfan Chemistry

“The acquisition underlines our strong commitment to growing our automotive coatings business and further investing in emerging markets,” said Markus Kamieth, President of BASF’s Coatings division. “With this acquisition, we will broaden our portfolio and gain access to a strong distribution network, which will strengthen our position in the fast-growing Chinese automotive aftermarket.”

The closing is expected in the second half of 2016, subject to necessary regulatory, statutory and other approvals. Both parties have agreed not to disclose financial details of the transaction.

About Guangdong Yinfan Chemical

Guangdong Yinfan Chemical Co., Ltd. was founded in 2000. The company's line of business includes the manufacturing of paints, varnishes, lacquers, enamels, and other allied products.

About BASF’s Coatings division

BASF’s Coatings division develops, produces and markets innovative automotive coatings, automotive refinishes and industrial coatings as well as decorative paints. It operates sites in Europe, Asia Pacific, North America and South America. Within this network, we collaborate closely with our customers all over the world. In 2015, the Coatings division achieved global sales of about €3.2 billion.

About BASF

BASF creates chemistry for a sustainable future. It combines economic success with environmental protection and social responsibility. The approximately 112,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of more than €70 billion in 2015. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN).

Source: BASF
 

PS: If you liked this News, you might enjoy our Coatings Industry Newsletter. All the Industry News delivered twice a week right to your inbox. Sign up here!


FEICA 2018 European Adhesive and Sealant Conference and EXPO
Channel Alerts

Receive weekly digests on hot topics

Back to Top