BASF acquire auto refinish coatings assets Guangdong Yinfan

BASF to acquire auto refinish coatings assets of Guangdong Yinfan

7:39 AM, 21st April 2016
BASF to acquire auto refinish coatings assets of Guangdong Yinfan
BASF signs agreement to acquire automotive refinish coatings assets of Guangdong Yinfan Chemistry.

LUDWIGSHAFEN, GERMANY / HONG KONG, CHINA: BASF SE said it will acquire assets of Guangdong Yinfan Chemistry Co Ltd (Yinfan) in China, to establish a stronger coatings production footprint by gaining access to an automotive refinish coatings plant.

It will also enable BASF to broaden its automotive refinish portfolio in Asia Pacific by adding the Yinfan line of products to its global brands including Glasurit, R-M, baslac and Norbin.

The closing of the transaction is expected in the second half of 2016.

“The acquisition underlines our strong commitment to growing our automotive coatings business and further investing in emerging markets,” said Markus Kamieth, president of BASF’s coatings division. “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.”

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