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BASF to buy automotive refinish coatings assets of Guangdong Yinfan Chemistry

ABR Staff Writer Published 22 April 2016

BASF signed an agreement to acquire automotive refinish coatings assets of Guangdong Yinfan Chemistry.

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.

BASF Coatings division president Markus Kamieth said: "The acquisition underlines our strong commitment to growing our automotive coatings business and further investing in emerging markets.

"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.

Source: Company Press Release