BASF expands Asia coatings business with Thai Eason Paint

12 December 2008 10:54  [Source: ICIS news]

TOKYO (ICIS news)--BASF has expanded its coatings business in Asia through an agreement with Eason Paint to use Thailand as the manufacturing base for the German chemical producer’s customers across the region, the company said on Friday.

“We foresee high growth potentials in the regional coatings industry and we are determined to strengthen our position here with high-quality technologies and comprehensive services,” said Mutsuo Aoki, an official with BASF Coatings Asia Pacific.

Together with Eason Paint, BASF said it would be able to serve the large coatings market in the Association of South East Asian Nations (ASEAN) region for motorcycles, industrial coatings and the automotive industry.

Eason Paint will exclusively produce BASF’s motorcycle coatings in Thailand, BASF said.

According to BASF, the total size of the coatings market in the ASEAN region is €2.8bn ($3.7) and accounts for about 15% of the entire coatings market in Asia-Pacific.

Thailand represented the largest coatings market within ASEAN, BASF said, while there was also significant growth in Vietnam, Indonesia and the Philippines.

BASF also signed an agreement on Friday to acquire the motorcycle coatings business of NOF (Thailand) for an undisclosed sum, establishing its own sales and marketing function in Thailand, BASF said.

NOF is a joint venture among Eason Paint, BASF Coatings Japan and Miki & Co, a Japanese chemical producer.

BASF has been operating in Thailand for over 40 years.

Its business in the country involves various products, including coatings, plastics, acrylics and super-absorbents, polyurethanes and automotive chemicals.

($1 = €0.75)

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By: Tomomi Yokomura
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