Position solidified (CP 1/2009)

Joint venture in Turkey turns into BASF Coatings Ltd.

BASF has signed an agreement with the Turkish company Yasar to buy out Yasar’s 50 percent stake in the joint venture Yasar BASF Automotive Coatings Ltd. The company markets automotive OEM finishes and refinishes in Turkey. “This purchase represents a long-term investment in our business in Turkey. Our position in the Turkish automotive market has solidified over the last ten years, during which time production has doubled with more than ten percent annual growth,” says Jürgen Barwich, Director of the Business Center Turkey.

Gunther Sthamer, Managing Director of the new company BASF Coatings Ltd in Turkey, adds: “We are now fully integrated into the BASF global network, allowing us to provide an even wider range of quality services to our customers.” Through the joint venture, BASF is already market leader in automotive OEM coatings in Turkey.