BASF Acquires Taiwanese TPU Adhesives Producer
As part of its drive to become an integrated solution provider for thermoplastic polyurethanes (TPU) and TPU-based adhesives, BASF is acquiring Taiwan Sheen Soon (TWSS), a producer of adhesives base material for TPUs.
The deal, for which financial details were not disclosed, is slated to close in 2015 following internal and external approvals. It will include the acquired company's business and all assets in Taiwan and mainland China.
BASF said the TWSS portfolio complements its own "established position" in TPU extrusion as well as injection moulding grades for applications with short innovation cycles, such as footwear.
"As TWSS has been at the forefront of TPU adhesives innovation, the acquisition is a strategic move that will strengthen BASF's competences in this important growth field," said Raimar Jahn, president of the German chemical giant's Performance Materials business segment.
The Taiwanese firm's assets, customers and employees will be integrated into BASF's existing legal entities and businesses. Jason Chou, owner and manufacturing director of TWSS, will continue to oversee the company's activities as a consultant to BASF.
