Henkel and BASF Coatings set up Research Joint Venture

BASF Coatings GmbH and Henkel AG & Co KGaA have signed a joint venture agreement to develop innovative corrosion protection solutions for the automotive industry. The 50/50 venture, pending approval of the German anti-trust authorities, will be headquartered in Düsseldorf. The joint venture is anticipated to launch in early 2011. Its primary focus will be research and development.

"A reduced number of process stages for metal pretreatment and corrosion protection would offer customers extensive benefits for the first phase of automotive painting," explained Paul Kirsch, Corporate Senior Vice President Transport and Metal at Henkel. "BASF and Henkel have outstanding and complementary competences as regards automotive corrosion protection," noted Raimar Jahn, President of the BASF Group's Coatings Division. "Pooling this experience and expertise offers a solid basis for research into a new and efficient technology," said Jahn. Both partners will continue to market their current product portfolio separately.

Date Posted: July 15, 2010