17 January 2000 00:00 [Source: ICB]
BASF Coatings and Akzo Nobel's Melbourne-based Australian subsidiary plan to pool their interests in the Australian OEM automotive coatings market.
A letter of intent to study the feasibility of such a move has been signed. The study is due for completion by the end of February.
The joint venture, expected to start up in the first half of this year, will market, sell and offer technical services for automotive OEM coatings to Australian car makers. The companies will not cooperate in the car refinishes market.
For Akzo Nobel, the deal will be a means of securing its significant position in the Australian automotive market. It will be in charge of local toll manufacturing for the joint venture.
BASF Coatings, whose automotive OEM business is conducted in Australia under a licence agreement with Orica's Dulux division, aims to use Australia as a stepping stone both into the Asian market and to international automakers currently operating in the region.
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