BASF acquires coil coatings business of Rhenania Coatings GmbH from ALTANA Chemie
BASF acquires coil coatings business of Rhenania Coatings GmbH from ALTANA Chemie
BASF Coatings, Muenster, Germany, has signed a contract to acquire the coil coatings business of Rhenania Coatings GmbH from ALTANA Chemie AG, Wesel,Germany, the chemicals division of ALTANA AG. This acquisition further extends BASF's position in the European coil coating market. Subject to the approval by the regulatory authorities, the transaction is expected to be completed during the fourth quarter of 2005. Financial details were not disclosed.
As announced, ALTANA Chemie has now completed the divestment of its industrial coatings activities in the Coatings and Sealants division. Rhenania Coatings is now focusing on specialty coatings and coating problem solutions for the packaging industry, and is well equipped to do so in the future due to the modern production facility at the Grevenbroich plant.
