BASF (No. 24 on the DiversityInc Top 50 Companies for Diversity list) has completed the acquisition of the assets of Guangdong Yinfan Chemistry Co., Ltd. ("Yinfan") in China. A new legal entity named "BASF Coatings (Guangdong) Co., Ltd." has been established in Jiangmen, Guangdong Province, to take over and further develop Yinfan's automotive refinish coatings business.
"Together with Yinfan's team, we have started the integration process. Our approach is very customer- and employee-focused," said Peter Fischer, Senior Vice President, Coatings Solutions Asia Pacific. "Our goal is to ensure business continuity and make Yinfan an integral part of BASF, leveraging technology, product portfolio and unique industry expertise of both companies."
BASF is a global leading supplier of automotive coatings. The acquisition enables BASF's Coatings division to broaden its automotive refinish portfolio in Asia Pacific by adding the Yinfan line of products to its successful global brands including Glasurit, R-M, baslac and NORBIN.
About BASF's Coatings division
The Coatings division of BASF is a global expert in the development, production and marketing of innovative and sustainable automotive OEM and refinish coatings, industrial coatings and decorative paints. We create advanced performance solutions and drive performance, design and new applications to meet our partners' needs all over the world. BASF shares skills, knowledge and resources of interdisciplinary and global teams for the benefit of customers by operating a collaborative network of sites in Europe, North America, South America and Asia Pacific. In 2015, the Coatings division achieved global sales of about €3.2 billion.
Solutions beyond your imagination – Coatings by BASF. For more information about the Coatings division of BASF and its products, visit www.basf-coatings.com.