BASF Closes Sale Of Industrial Coatings Businesses To AkzoNobel - Quick Facts

(RTTNews) - German chemicals giant BASF SE (BFA.L, BASFY.PK) Thursday said it has completed the sale of its global industrial coatings businesses to AkzoNobel.

The transaction includes technologies, patents and trademarks, as well as the transfer of dedicated production sites in Deeside, United Kingdom, and Vanderbijlpark, South Africa.

With the deal, AkzoNobel will now operate the global coil, furniture foil and panel coatings, wind coatings and general industry businesses acquired from BASF, as well as the commercial transport business in EMEA. These businesses generated sales of approximately 300 million euros in 2015.

BASF's automotive OEM and automotive refinish coatings businesses, as well as its decorative paints business with its brand Suvinil in Brazil, remain part of BASF's Coatings division.

In addition, BASF recently completed the acquisition of Chemetall, a supplier of applied surface treatments, which is now also part of the Coatings division.