BASF and AkzoNobel have reached a general agreement on the sale of the industrial coatings business of BASF’s Coatings division to AkzoNobel for €475 million. The transaction would include technologies, patents, and trademarks, as well as the transfer of two dedicated production sites, one in Deeside, England, and one in Vanderbijlpark, South Africa. The The companiesl intend to complete the transaction by the end of 2016.
BASF’s industrial coatings business generated sales of approximately €300 million in 2015. It supplies products for a number of end uses, including coil, furniture foil, and panel coatings, as well as coatings for wind energy plants, general industry, and commercial transport.