BASF forms mining solutions joint venture in China

BASF forms mining solutions joint venture in China

5:02 PM, 8th July 2011
BASF forms mining solutions joint venture in China
Albert Heuser, President, Market and Business Development Asia Pacific, BASF.

JI’NING, CHINA: BASF and Ji’Ning Hock Mining & Engineering Equipment Company Limited will form an enterprise in which BASF takes a 75 per cent majority stake. Hock, a Chinese producer of chemical injection and cavity filling products for mining and other underground applications, will bring in all its current business activities into the new company. The transaction is subject to clearance by relevant authorities in China.

The new company will produce chemical injection and cavity filling products for mining and other underground applications. The new venture will develop technologies and products that help improve safety and productivity of mining operations.

“With this acquisition BASF demonstrates its long term commitment to the underground construction and mining industry as a global business. With its well-established market position in the mining industry, Hock provides product expertise and a strong customer base. Combined with BASF’s technology capabilities and expertise, the new venture is set to be an important partner to local as well as global mining experts,” said Dr Tilman Krauch, President Construction Chemicals, BASF.

“According to our Asia Pacific Strategy 2020, we will invest € 2.3 billion in the Asia Pacific region between 2011-2015,” said Albert Heuser, President, Market and Business Development Asia Pacific, BASF.

© WOC News

 

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