Sector News

BASF to Acquire Taiwan Sheen Soon

December 9, 2014
Chemical Value Chain
BASF has entered into a definitive agreement to fully acquire the business and assets in Taiwan and Mainland China of Taiwan Sheen Soon (“TWSS”), a leading manufacturer for thermoplastic polyurethanes (“TPU”) adhesives base material.
 
“The acquisition is part of our efforts to systematically pursue growth in the attractive TPU market. It is a valuable addition to our existing TPU portfolio; strengthening our manufacturing footprint in Asia,” said Mr Raimar Jahn, President, Performance Materials, BASF. “As TWSS has been at the forefront of TPU adhesives innovation, the acquisition is a strategic move that will strengthen BASF’s competences in this important growth field.”
 
The acquisition of the adhesives business of TWSS complements BASF’s established position in TPU extrusion as well as injection molding grades for various segments, such as footwear. An example of TPU application in the footwear segment is the “Energy Boost” running shoe from adidas, made with expanded TPU, which BASF markets under the name Infinergy™.
 
With the acquisition, the company will become an integrated solution provider for TPU and TPU adhesives, which enhances its value proposition to customers.
 
The acquisition is expected to close in 2015, pending necessary internal and external approvals. The integration will take effect in 2015. The parties have agreed not to disclose financial details of the agreement.
 
“TWSS’s cutting edge and proven technologies enable us to offer innovative solutions in a more integrated and efficient manner. Accordingly, the acquisition will greatly benefit our customers in short innovation cycle segments such as shoes,” said Albert Heuser, President, Greater China and Functions Asia Pacific, BASF.
 
“TWSS’s unique expertise for TPU adhesives is backed by established long-standing customer relationships and a global presence,” said Jason Chou, managing director and owner of TWSS, who will continue to oversee the business as a consultant to BASF. “TWSS’s existing customers and employees will gain access to the full portfolio of BASF products, technical expertise and resources through this acquisition.”
 
With this acquisition, BASF will secure and integrate all existing assets, customers and employees into the existing BASF legal entities and business. The company will also ensure a smooth transition and uninterrupted supply for customers.
 
Source: BASF

Related News

September 18, 2020

British company Hydrachem launches Cert. – a household cleaner that destroys COVID-19 in just 60 seconds

Chemical Value Chain

A British company is today launching a household cleaner which destroys the SARS-CoV-2 virus – which causes COVID-19 – in just 60 seconds. Cert. is manufactured by Hydrachem, which has […]

September 18, 2020

European Commission raises EU’s GHG emissions reduction target to at least 55% by 2030

Chemical Value Chain

The European Commission presented today its 2030 climate target plan, in which it sets out a program to reduce EU greenhouse gas (GHG) emissions by at least 55% by 2030, […]

September 16, 2020

Dow to sell trio of US Gulf Coast tank terminals to Vopak JV for $620 million

Chemical Value Chain

Dow has agreed to sell three of its chemical storage terminals on the US Gulf Coast for $620 million to a joint venture (JV) between Vopak (Rotterdam, Netherlands) and investment […]