BASF (Thai) Limited reached an agreement with Eason Paint Plc (Thailand) to become the manufacturing base for BASF customers across ASEAN, including automotive and industrial coatings customers. BASF motorcycle coatings in Thailand will be exclusively produced by Eason Paint.
BASF also signed an agreement to acquire the motorcycle coatings business of NOF (Thailand) Limited, establishing its own sales and marketing function in Thailand to support customers in the ASEAN region.
The coatings market in ASEAN, with a total size of €2.8 billion, accounts for approximately 15% of the entire coatings market in Asia-Pacific. Thailand represents the largest coatings market within ASEAN but there is also significant growth in Vietnam, Indonesia and the Philippines.