BASF Acquires Coil
Coatings Business of
Rhenania Coatings GmbH
BASF Coatings will acquire the coil coatings business of Rhenania Coatings GmbH, further extending its position in the European coil coating market. Subject to approval by the regulatory authorities, the transaction is expected to be completed during the fourth quarter of 2005. Financial details were not disclosed.
The acquisition includes 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 approximately €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 aluminum.”