Industry News

BASF Decides to Merge Three Companies Based in India

Published on 2010-09-14. Author : SpecialChem

BASF plans to merge its three companies based in India. The companies to be consolidated are BASF Polyurethanes India Ltd., BASF Coatings India Pvt. Ltd and BASF Construction Chemicals (India) Pvt. Ltd.

The shareholders of the company seem to think that the parent's actions may benefit them. The share price rose by 6% after it announced the merger ratios for three BASF group companies present in India.

BASF Polyurethanes India Ltd makes polyurethane chemicals which find use in industries such as automobiles, refrigeration, construction and shoe making. Earlier BASF had informed the shareholders that parent company intended to acquire this subsidiary, subject to certain conditions, and it was examining the feasibility of these conditions. This proposal appears to have been dropped as it will be merged with the parent company.

BASF Coatings supplies to original equipment manufacturers and claim to be among the top three automotive coating players in the country. Kansai Nerolac Paints Ltd, Asian PPG Industries Ltd and Akzo Nobel are its main competitors in this market.

BASF Construction supplies products to the construction industry for use in making concrete, industrial flooring, tile adhesives and other specialized applications.

BASF plan to grow faster than the market in the Asia-Pacific. India and China will be key markets driving this growth.

About BASF India

BASF India Limited is the flagship company of the BASF Group in India. The company is listed on the National Stock Exchange and the Bombay Stock Exchange.

BASF India Limited is headquartered in Mumbai, with manufacturing facilities in Thane, Mangalore.

BASF India Limited manufactures and markets expandable polystyrene, tanning agents, leather chemicals and auxiliaries including specialised metal complex dyes, leather dyes, textile chemicals, dispersions and speciality chemicals, acrylic polymers in primary forms and crop protection chemicals.

Source: SpecialChem Editorial Team
(Based on information displayed on www.livemint.com)

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