Page 159 - CW E-Magazine (28-5-2024)

News from Abroad

DISPERSANTS & RESINS
BASF plans expansion of Nanjing additives plant

BASF has announced plans to
invest in the expansion of its advanced
additives plant at its Nanjing site in
China to meet rapidly growing market
demand in Asia and beyond.

This new expansion includes a state-
of-the-art production line for BASF’s
Controlled Free Radical Polymerisation
(CFRP) dispersants based on its unique
technologies. Built to reach high en-
vironmental standards, the new line is
planned to start up by the end of 2025.

“The new investment in the addi-
tives plant in Nanjing will further
strengthen BASF’s local production tives in China and the Asia Pacific dispersing agents based on our unique
footprint in China, the world’s largest region, seamlessly integrating manufac- controlled free radical polymers. This
and fastest growing chemical mar- turing, technical service, and R&D. investment is a testimony of our com-
ket,” said Dr. Jeffrey Lou, President mitment towards continuous innovation,
and Chairman of BASF Greater China. Mr. Sylvain Huguenard, Vice Presi- supply reliability and sustainability.”
BASF’s commitment to providing dent, Global Business Management Addi- High-performance additives are widely
world-class performance and formula- tives said, “Benefits of CFRP techno- used across industries such as industrial
tion additives to the coatings industry logy include strong pigment affinity and coatings and automotive OEM coatings.
is reflected in the continuous expansion excellent flocculation resistance enabled The market is constantly demanding
of the Nanjing site over the past decade. through well-defined polymer struc- more universal and higher performance
Today, the Nanjing site has become a ture. For over 20 years, BASF has been dispersants to push the limits of reachable
powerhouse for the company’s addi- supporting customers with cutting edge colour space with existing pigments.
COATINGS
CVC Capital Partners acquires minority stake

in Denmark’s Hempel

Luxembourg-based private equity platform, which was established to in- cure Hempel’s financial base and ensure
firm, CVC Capital Partners, has entered vest in businesses over longer periods its future growth. After careful consi-
into a deal with the owner of Hempel to that may not suit a traditional private deration, the Hempel Foundation has
acquire a 30% stake in the Danish sup- equity mandate. The enterprise values decided to welcome a minority investor
plier of coating solutions for the pro- of the companies in which the strategy that brings both unique experience and
tective, decorative, marine, container, invests are typically between €1-bn and capital to support Hempel’s accelera-
industrial and yacht segments. €5-bn and more, with a longer holding ted growth journey,” said Mr. Richard
period of around six to 15 years, Sand, Chair of the Hempel Foundation
The Hempel Foundation, parent according to CVC’s website. Board of Directors in the announce-
company of Hempel, will continue to ment. This investment will aid Hempel
be a majority shareholder following “The Hempel Foundation has been in developing new technology and exe-
the deal. CVC has invested in Hempel the sole owner of Hempel for 75 years cuting potential acquisition opportuni-
through its ‘Strategic Opportunities’ and has an ongoing commitment to se- ties, as per the deal announcement.

Chemical Weekly May 28, 2024 159

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