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On December 14th BASF announced that it had completed the acquisition of Cheme
tall, a subsidiary of Albemarle, which provides chemical services for metal and plastic surface treatments for a $3.2bn project.
, founded in the late 19th century, was acquired by Rockwood Specialty Products in 2014 after a business restructuring and sold to Yabao in 2015. Headquartered in Frankfurt, Germany, Kemitel has 21 production facilities in more than 20 countries, employs about 2,500 people and had sales of $845 million in 2015.
BASF first announced its acquisition of the business in June 2016, when Wayne T. Smith, a board member of BASF's
Coatings
division, said, "Kemitel's strategy is strong and fit for our coatings business."
, President of BASF Coatings, said, "The addition of Kemitel's attractive surface treatment business to our coatings division will improve our current business portfolio."
According to the analysis, BASF's acquisition of Kemetal aims to consolidate its
Automotive Coatings
business, form a more complete industrial chain, strengthen supporting services, Kemetal's global supply chain of specialty chemicals for metal and plastic surface treatment will provide new business support for the company.
data show that BASF's coatings division had sales of about 3.2 billion euros ($3.6 billion) in 2015, with the automotive coatings business accounting for an absolute share of the business.