BASF Coatings has acquired the coil coatings business of Rhenania Coatings GmbH. Pending regulatory authority approval, the transaction is expected to be completed during the fourth quarter. Financial details were not disclosed.
The deal includes products, technologies and customer order lists; sites and manufacturing equipment were not included. Rhenania Coatings' coil coatings business had sales of approximately €8 million in 2004.
“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.
BASF acquires Rhenania's coil coatings business
By Christine Esposito
Published October 4, 2005
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