BASF in Chinese Automotive Refinish Coatings Deal
BASF's Coatings Division has signed a manufacturing agreement with Guangdong Yinfan Chemistry Co, a Chinese firm that recently opened a new production facility at Jiangmen City, Guangdong Province.
Under the agreement, Yinfan will manufacture automotive refinish coatings, targeting the non-premium segment, for BASF at the new plant, using the German chemical giant's formulas and technologies.
"Establishing a reliable, regional manufacturing footprint for automotive refinish coatings is important for fulfilling the growing market demands," said Peter Fischer, senior vice president, Coatings Solutions Asia Pacific at BASF. Partnering with Yinfan "supports BASF's ambitious plan in this fast-growing market," he added.
Qingtao Zhang, Chairman of Yinfan, said his company is "fully committed to meeting the stringent quality requirements of BASF in automotive refinish coatings."
