BASF has signed an agreement with Akzo Nobel to take complete control of BASF Akzo Nobel (BAN), its equal-share Australian automotive coatings joint venture. Financial details of the transaction were not disclosed.
Effective July 1, BASF will merge its Australian OEM coatings and refinish coatings operations (BAN and BASF Coatings Pty Ltd. in Sydney) into one company under the name BASF Coatings Australia Pty Ltd. In 2004, these two businesses had posted combined sales of approximately 25 million.
BASF To Buy Out Akzo in Aussie Auto JV
By Jason Lawton
Published June 7, 2005
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