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DIC Corporation finalises BASF acquisition
DIC Corporation has closed on the acquisition of BASF’s global pigments business, known as BASF Colors & Effects (BCE). “We’re excited to close our acquisition of BCE and expand our product offering as one of the leading pigment suppliers globally,” said Kaoru Ino, President and Chief Executive Officer of DIC. “BASF’s pigments portfolio is an important strategic addition in expeditiously meeting the goals we’ve outlined, which provide a clear growth path for DIC with the target to increase our sales to 1 trillion yen (approximately €8 billion) by 2025.”
The acquisition brings together the complementary portfolio of technologies, products, manufacturing assets, supply chain and customer service of the two companies to serve customers globally. Between DIC and BCE, there are over 30 pigment production facilities worldwide.
“BCE is a strategic partner who aims for high growth and high added value by expanding functional pigments into niche applications. Due to the complementary regional footprint and product portfolio, the acquisition of BCE is ideal for the DIC pigments business,” said Yoshinari Akiyama, DIC Managing Executive Officer and General Manager of the Color Material Products Division. “Closing this deal enables us to combine the technological capabilities of both companies so we continue to create new value and provide it to the market as the leading company in the pigment business.”
“The investments of DIC proves its commitment to innovation and interest in the longer term success of the business. We’re excited to see BCE continue down a path of growth and success,” said Dr. Alexander Haunschild, Senior Vice President and Managing Director at BASF’s pigment-focused subsidiary BASF Colors & Effects.
A transition team continues to work to ensure a smooth transition for customers and employees.