Chemetall® to acquire the automotive paint detackification business of Polymer Ventures, Inc.
Jan 22, 2019, 06:00 ET
NEW PROVIDENCE, N.J., Jan. 22, 2019 /PRNewswire/ -- The Surface Treatment global business unit of the Coatings division of BASF, operating under the Chemetall brand, announces that it has reached a conclusive agreement to acquire the automotive paint detackification business of Polymer Ventures, Inc., including all of its shares of Galaxy Chemical Corporation.
The paint detackification technology, is a process used to capture and neutralize paint overspray, and complements Chemetall's surface treatment products which are designed to optimally prepare metal surfaces for the painting process and ensure proper coating adhesion. The transaction culminates a long-standing partnership between the two organizations whose customer portfolios fully align.
The purchase will provide customers with best-in-industry value: by streamlining the combined supply chain; enhancing service through the organizations' mutual commitment to meeting technical requirements with expanded in-field representation and industry specialists; new products through global R&D resources, and stronger manufacturing and processing capabilities. Furthermore, the joined business represents a significant growth opportunity for employees, customers and suppliers. Chemetall through this acquisition is in the best position to offer a technically advanced and complementary product portfolio to the industries it serves. This in keeping with its complete-system market approach of Cut It. Clean It. Coat It. Control It. Conserve It.®
About BASF's Coatings division
The Coatings division of BASF is a global expert in the development, production and marketing of innovative and sustainable automotive OEM and refinish coatings, decorative paints as well as applied surface treatments for metal, plastic and glass substrates in a wide range of industries. The portfolio is completed by the "Innovation Beyond Paint" program which aims at developing new markets and businesses. We create advanced performance solutions and drive performance, design and new applications to meet our partners' needs all over the world. BASF shares skills, knowledge and resources of interdisciplinary and global teams for the benefit of customers by operating a collaborative network of sites in Europe, North America, South America and Asia Pacific. In 2017, the Coatings division achieved global sales of about €3.97 billion.
Solutions beyond your imagination – Coatings by BASF. For more information about the Coatings division of BASF and its products, visit www.basf-coatings.com.
About BASF
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The more than 115,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of more than €60 billion in 2017. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (BAS). Further information at www.basf.com.
SOURCE Chemetall