Sun Chemical, Parsippany, N.J., a subsidiary of DIC Corporation, has closed on the acquisition of BASF’s global pigments business, known as BASF Colors & Effects (BCE).
The acquisition brings together the complementary portfolio of technologies, products, manufacturing assets, supply chain and customer service of the two companies to serve customers globally.
“We’re excited to close our acquisition of BCE and expand our product offering as one of the leading pigment suppliers globally,” says Kaoru Ino, president and CEO of DIC. “BASF’s pigments portfolio is an important strategic addition in expeditiously meeting the goals we’ve outlined, which provide a clear growth path for DIC with the target to increase our sales to 1 trillion yen (approximately €8 billion) by 2025.”
The purchase will broaden Sun Chemical’s portfolio as a global manufacturer of pigments, including those for electronic displays, cosmetics, coatings, inks, plastics, and specialty applications, by creating a world-class pigments supplier that offers customers an even wider range of versatile solutions, according to the company.
“We’re pleased to welcome the valued and trusted expertise and engagement of BASF’s employees in the pigments business,” says Myron Petruch, DIC executive officer and president and CEO of Sun Chemical, a subsidiary. “This deal allows us to compete in the global marketplace more effectively going forward, while strengthening our pigment footprint in Europe. It underscores our commitment to delivering solutions tailored to meet the needs of our customers.”
Customers will benefit as the acquisition offers the opportunity to combine complementary expertise and best practices to develop ground-breaking innovative solutions for the marketplace. As a company that strives for Color & Comfort, DIC believes that it can contribute to its customers by providing colors to society and life, according to the company.
With over 30 pigment production facilities worldwide between DIC and BCE, the company’s pigment portfolio will offer broader product categories related to effect pigments, inorganic pigments, organic pigments, specialty dyes, and pigment preparations.
“The investments of DIC proves its commitment to innovation and interest in the longer-term success of the business,” says Dr. Alexander Haunschild, senior vice president and managing director at BASF’s pigment-focused subsidiary BASF Colors & Effects. “We’re excited to see BCE continue down a path of growth and success.” — D.S.
