Oct 5 2005
BASF Coatings has signed a contract to acquire the coil coatings business from Rhenania Coatings GmbH. This acquisition further extends BASF’s position in the European coil coating market. Subject to the approval by the regulatory authorities, the transaction is expected to be completed during the fourth quarter of 2005. Financial details were not disclosed.
The contract encompasses the purchase of assets including products, technologies and customer order lists. Sites and manufacturing equipment are not included. In 2004, the coil coatings business of Rhenania Coatings GmbH had sales of about € 8 million.
“The acquisition strengthens our coil coatings business, which is of strategic importance to us,” said Thomas Stewing, BASF’s business director for Precoatings in Europe. “At the same time, it expands our technology competence regarding the coating of aluminium.” The technologies BASF is acquiring from Rhenania Coatings are particularly applied to aluminium used by the construction industry -- for example in structures that provide sun protection.
Coil coatings are used to coat steel and aluminium coils employed in construction, transportation and household appliances. It is a distinct application in which the steel and aluminium substrates are coated prior to further manufacturing steps. BASF holds a leading position in this global market.
http://www.basf-coatings.de/