Japanese chemical company DIC has reportedly agreed to acquire BASF’s global pigments business.
Japanese chemical company DIC has reportedly agreed to acquire BASF’s global pigments business.

Japanese chemical company DIC has reportedly agreed to acquire BASF’s global pigments business for €1.15 billion.

DIC has about 20,000 employees globally and generated sales of around 800 billion yen in 2018 (€6.8 billion). BASF’s pigments business has around 2,600 employees and generated sales of approximately €1 billion in 2018.

‘We have achieved our goal to find an owner who considers pigments a core strategic business,’ said Dr Markus Kamieth, member of the board at BASF. ‘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.’

‘We have outlined a clear growth path for DIC with the target to increase our sales to 1 trillion yen, ie approximately €8 billion, by 2025,’ added Kaoru Ino, president and CEO of DIC. ‘In this context, BASF’s pigments portfolio is an important strategic addition in meeting our goals more expeditiously.’

This story uses material from BASF, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.