DIC to acquire BASF’s pigments business
Japanese firm DIC, which owns pigments producer Sun Chemical, has agreed to acquire BASF’s global pigments business for €1.15 billion. The transaction is expected to close in Q4 2020, subject to regulatory approvals.
DIC had sales of about €6.8 billion in 2018 and aims to hit €8 billion by 2025. Pigments are described as an important element of this, as part of its Colour & Display segment. CEO Kaoru Ino said that in this context, the newly acquired business, which employs 2,600 and had sales of €1 billion in 2018, is an important strategic addition in meeting our goals more expeditiously”.
For BASF, Dr Markus Kamieth, the member of the board of executive directors responsible for the Industrial Solutions segment, said: “DIC pursues ambitious growth plans and has announced to further develop the business in the coming years. We are convinced that the pigments business will be able to unfold its full potential within DIC.”