DIC Group will acquire BASF’s global pigment business

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BASF and fine chemical products company DIC have reached an agreement to acquire BASF's global pigment business. The transaction involves a cash and debt-free purchase price of 1.15 billion euros. The transaction is expected to close in the fourth quarter of 2020. The transaction also needs to be approved by the relevant regulatory agencies.

Dr. Markus Kamieth, a member of the executive board of BASF Europe and responsible for the industrial solutions business, said: "Our goal is to find a company with pigments as its core strategic business. DIC has ambitions. We have a vigorous development plan and announced that we will continue to develop this business in the next few years. We are sure that the pigment business can fully release its development potential under the banner of DIC."

DIC is a Japanese company listed on the Tokyo Stock Exchange enterprise with approximately 20,000 employees worldwide. Headquartered in Tokyo, the company was founded in 1908 and has operations in more than 60 countries around the world. Its sales in 2018 were approximately 800 billion yen, equivalent to approximately 6.8 billion euros. Under the motto "Colour and Comfort with Chemistry", DIC is active in three areas: Packaging & Graphic Materials, Functional Products and Color & Display. Among them, the Color and Display business area includes the pigment product portfolio.

Kaoru Ino, representative director and president executive director of DIC, said on this agreement: "DIC has a clear growth goal, which is to achieve 1,000 billion yen in 2025, equivalent to about 8 billion billion euro sales target. Against this backdrop, BASF’s pigment portfolio is a very important strategic addition for us, enabling DIC to reach its target more quickly. This will help us expand our position as the world’s leading pigment supplier One of the status, and provide our customers with more diversified solutions.”

Dr. Alexander Haunschild, Senior Vice President of BASF Pigments Business and General Manager of Colors & Effects, a global pigment brand, pointed out that the agreement is an Continuing the growth since 2016 provides opportunities, he said: "We believe that DIC is a company that is willing to invest in and continue to innovate for the long-term success of the business."

Executive Director of DIC, the group's focus on the pigment market Myron Petruch, CEO of Sun Chemical, added: “As a long-term business partner of BASF, we value the expertise and involvement of BASF employees in the pigments business. By combining our businesses, DIC and Sun Chemical aim to be a global One of the most innovative pigment suppliers."

BASF's pigment business employs 2,600 people worldwide and had sales of 1 billion euros in 2018.