BASF Announces Major Moves

BASF has completed the sale of its global industrial coatings business to AkzoNobel. The transaction includes the transfer of technologies, patents and trademarks as well as production facilities located in Deeside, United Kingdom and Vanderbijlpark, South Africa. As a result of this transaction, AkzoNobel will manage the global coil, furniture veneer and panel coatings, wind coatings and general industry business acquired from BASF, as well as the commercial transportation business in EMEA. These companies generated approximately EUR 300 million in sales in 2015. The remaining portfolio of the coatings division, comprising automotive OEM and automotive refinish operations as well as decorative coatings including the leading Suvinil® brand in Brazil, generated approximately EUR 2.9 billion in sales in 2015. The coatings business was further strengthened by the acquisition of Chemetall, a leading global supplier of applied surface treatment solutions, completed this week.

BASF Acquires Chemetall for Comprehensive Coatings Division Solutions

BASF has expanded its portfolio scope by acquiring Chemetall, Albemarle's global surface treatment company, to make its Coatings Division a more comprehensive solutions provider. BASF is combining its knowledge and experience in chemical and coatings applications with Chemetall's leading market expertise in surface treatment. As a result of the merger, the companies will benefit from each other's global infrastructure, scale and market access, offering customers unique solution capabilities and creating new growth opportunities. BASF Coatings Division Head Markus Kamieth stated, "The acquisition of Chemetall will enable us to significantly expand our market. By combining the expertise and innovation power of two global market leaders, we will accelerate innovation and make our customers much more successful." Chemetall develops and manufactures specialized technologies and system solutions for surface treatment. Its products protect metals from corrosion, facilitate forming and processing, ensure optimal preparation of parts for the painting process and enable proper paint adhesion. These chemicals are used in many industries and end markets such as automotive, aerospace, aluminium finishing and metal forming. Chemetall's full-year 2015 revenue was USD 845 million. To prepare for seamless integration, BASF established a Global Integration Management Team that will ensure business continuity while prioritizing meeting customer needs.