 "BASF signs pact to acquire automotive refinish coatings assets of Yinfan")
BASF has signed an agreement to acquire automotive refinish coatings 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 an 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.
“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,” said Markus Kamieth, president of BASF’s coatings division.
The closing is expected in the second half of 2016, subject to necessary regulatory, statutory and other approvals.
