Joint venture of NOF Corporation and BASF Coatings

13-Oct-2000

Tokyo. On October 1, the new 50/50 joint venture company of NOF Corporation, Shibuyaku, Tokyo, and BASF coatings AG, Münster, Germany, became operative under the name BASF NOF Coatings Co., Ltd. The company with a staff of 500 is located in Shinagawa-ku, Tokyo, and is to comprise all the coatings activities NOF and BASF have in Japan, covering automotive OEM and refinish as well as industrial coatings. The former two joint ventures of NOF and BASF Coatings, namely Nippon R-M Co., Ltd., specialized in automotive repair paints and BASF Nichiyu Coatings R & D Co., Ltd., specialized in research and development of automotive OEM coatings, are to be integrated into the new company, and will continue their reliable service to their customers. Managed by Osamu Ohe and Manfred Schmale, the new joint venture will be concerned with manufacturing, sales and marketing as well as research and development.

In the automotive OEM coatings business, the new joint venture company unites BASF's experience as a successful systems supplier in all regions outside Japan with NOF's expertise in technology and marketing in Japan. The two partners will offer high-grade eco-efficient products and services to the automotive industry in Japan. Through value-added systems for the plants in Japan and those in other parts of the world, the partners will meet the requirements of Japanese motor manufacturers, who increasingly operate around the globe. In the automotive refinish sector, the partners intend to pursue their successful cooperation, benefiting from the synergies that arise from closer links to the automotive OEM coatings business. In industrial coatings, too, the joint company will offer greater benefits to Japanese customers by combining the leading-edge technology developed by BASF in Europe with the technology NOF has developed for the Japanese market.

"This joint venture will make BASF the first western paint manufacturer to operate production facilities in Japan, and this also makes us the first real global player in the coatings industry," says Klaus Peter Löbbe, head of the BASF Group's Coatings Division and President and CEO of BASF Coatings AG. "NOF and BASF will boost their international competitive position through this joint venture," points out Masayasu Uno, NOF's President and CEO.

BASF and Coatings

BASF is a return-focused global company generating long-term growth and profitability from its activities in chemicals, health and nutrition, and oil and gas. The company's product range includes high-value chemicals, plastics, dyestuffs, dispersions, automobile and industrial coatings, crop protection products, pharmaceuticals, fine chemicals, crude oil and natural gas. BASF's approach to integration, known in German as "Verbund", is one of the company's particular strengths and provides a unique competitive advantage. With sales in 1999 of EUR 29.5 billion (DM57.5 billion) and a workforce of 105,000 employees, BASF is one of the world's top chemical companies. BASF's internet address is www.basf.com

The global Coatings Division of the BASF Group achieved, with about 10,000 employees, world sales close to EUR 2 billion (about DM4 billion) in 1999, with more than 50% coming from outside Europe. The NAFTA region and South America are the other major markets. However, BASF Coatings is also active in the Asia/Pacific region, for example with af

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