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    Home > Coatings News > Paints and Coatings Market > BASF acquires Yinfan Chemical to expand market share of coatings in China

    BASF acquires Yinfan Chemical to expand market share of coatings in China

    • Last Update: 2021-07-30
    • Source: Internet
    • Author: User
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    Global Coatings Network News:

    According to a market observation website, the German chemical company BASF said on Wednesday that the company has signed an agreement to acquire Yinfan Chemical Co.
    , Ltd.
    , which specializes in automotive refinish business.

      After negotiations between the two parties, a BASF spokesperson declined to disclose the financial details of the transaction, but the company said that by acquiring this advanced automotive refinish production base, it will strengthen its market share of coating products in China.

      After acquiring the production line of Yinfan, BASF hopes to expand the range of automotive refinish paint products in the Asia-Pacific region.
    The company said that the product line will expand existing brands, including Glasurit, RM, BAslac and Norbin brands.

      Markus Kamieth, head of BASF's coatings division, said: "This acquisition will expand our product portfolio and gain a strong distribution network, which will strengthen our dominant position in the fast-growing Chinese automotive aftermarket.
    "
    According to BASF data, in 2015 global sales, the coatings division contributed 3.
    2 billion euros (3.
    6 billion US dollars) in sales.

      After the necessary approvals, the acquisition is expected to be completed in the second half of 2016.
    (Source: Global Coatings Network) (For more information, please log in: Global Coatings Network
    http:// )


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