DIC Corp to acquire BASF’s Global Pigments Business
Japan’s DIC Corp, whose global subsidiaries include Sun Chemical, is to acquire BASF’s global pigments business, known as BASF Colors & Effects. The acquisition will broaden DIC’s portfolio as a global manufacturer of pigments, including those for electronic displays, cosmetics, coatings, plastics, inks and specialty applications.
“Our acquisition of BCE brings together complementary resources and expertise of two recognised leaders in innovation, product stewardship, regulatory leadership, application support and manufacturing” said Kaoru Ino, President and Chief Executive Officer of DIC. “We have outlined a clear growth path for DIC, with the target to increase our sales to one trillion yen (approximately €8 billion) by 2025. In this context, BASF’s pigments portfolio is an important strategic addition in meeting our goals more expeditiously. It will allow us to expand our offering as one of the leading pigment suppliers globally and provide our customers even more versatile solutions.”
The acquisition offers an opportunity to combine complementary knowhow and best practices to develop groundbreaking innovative solutions for the marketplace. With over 30 pigment production facilities worldwide between DIC and BCE, the company’s pigment portfolio will be able to offer broader product categories related to effect pigments, inorganic pigments, organic pigments, specialty dyes and pigment preparations.
“As a longstanding business partner of BASF, we value the expertise and engagement of BASF’s employees in the pigments business” commented Myron Petruch, DIC Executive Officer and President and CEO of the Sun Chemical subsidiary. “The move improves our pigment footprint in Europe and underscores our commitment to delivering solutions tailored to meet the needs of our customers. It also allows us to compete in the global marketplace more effectively going forward.”