International.
BASF announced that it has inaugurated BASF Coatings (Guangdong) Co Ltd, its first automotive refinish manufacturing operation in Asia Pacific, located in Jiangmen, Guangdong Province, China. The new entity was established upon completion of the acquisition of Guangdong Yinfan Chemistry Co Ltd's automotive refinish coatings business.
"With the establishment of BASF Coatings (Guangdong) Co Ltd, we are best positioned to support our customers by leveraging BASF's well-established distribution network, technology, expanded product portfolio and industry expertise and Yinfan's legacy," said Stephan Kothrade, President of BASF, China. The products manufactured at the new facility expand BASF's portfolio of global brands, especially in the rapid growth of the Value-for-Money segment.
China's roads were home to around 172 million vehicles at the end of 2015, and sales are expected to increase to 30 million vehicles/year through 2021. "With this investment we are strengthening our position in the Chinese repainting market. We establish a local presence with full capacity to serve the growing Value-for-Money market with an offer of products according to the needs of the local market. Our new acquisition, strategically located in the fast-growing Chinese market, will also serve as a technology and production hub to support our refinishing operations throughout the Asia Pacific region," said Peter Fischer, Senior Vice President, Coatings Solutions Asia Pacific.
The manufacturing plant offers a complete portfolio of automotive paints, along with other applications, including solutions for buses and earthmoving equipment.
Image: BASF Coatings.
