Combined coatings

BASF has bought out Akzo Nobel’s share of their Australian 50:50 coatings joint venture - BASF Akzo Nobel (BAN).

The Melbourne-based joint venture BASF Akzo Nobel was formed in May 2000 focusing on OEM coatings.

BASF now plans to combine its two coatings entities in Australia. From July 1, 2005, the businesses for OEM coatings and refinish coatings (BASF Coatings in Sydney) will be consolidated in one company under the name of BASF Coatings Australia.

In 2004, these two businesses had combined sales of approximately 25 million Euros. About 80 employees will work for the new company.

With sales of 2 billion Euros in 2004, BASF’s Coatings Division develops, produces and markets a range of automotive OEM coatings, automotive refinishes and industrial coatings as well as decorative paints, and also the processes needed to apply them.

Financial details of the transaction were not disclosed.