BASF Swaps FOIl aND FIBER BOARD COATINGS BUSinesses with Treffert; Extends Agreement WITH RUSSIAN IRON & STEEL CORP.
BASF Coatings has acquired Treffert Group’s foil coatings business, and in a separate transaction, Treffert has agreed to acquire the fiber board coating business from BASF Coatings’ affiliates in Spain and Italy.
The deal included customer order books and intellectual property rights, but not locations or manufacturing equipment. Financial terms were not disclosed.
“The asset purchase agreement with BASF Coatings will further streamline Treffert’s product portfolio to dedicate technical and production capacities to fast growing business segments, in particular UV curable HPC finishing systems for engineered wood flooring products,” said Ali Vahlhaus, managing director of the Treffert Group. Both coatings systems are used on furniture and panels for walls, doors and profiles.
In other news, BASF Coatings and Russian Novolipetsk Iron & Steel Corporation have extended their long-running cooperation by five years. According to the agreement, a second coil coating line with a capacity of approximately 200,000 tons of coated steel will be commissioned in Novolipetsk in 2004.
BASF Pevicoat unit has been in operation at Novolipetsk since 2001.