BASF Construction Chemicals (Sichuan) announced today that it has acquired the assets of Hi Con (Sichuan Pengshan) Concrete Admixture (Hi Con China), a major producer of concrete admixtures in China. Financial details were not disclosed.
According to a statement, the acquisition gives BASF a powerful presence in the Western China construction chemicals market and represents a significant step in BASF’s plan to become the number one player in China’s admixture market.
‘By acquiring Hi Con China, BASF will be able to provide the most recent technologies from a local production site close to our customers in a rapidly developing market,’ said Dr. Boris Gorella, head of the Regional Business Unit Construction Chemicals Asia Pacific. ‘This step also increases our ability to react quickly to local market demands.’
BASF has been producing admixtures in China since 1988 and operates six production facilities for construction chemicals in Shanghai, Beijing, Nanjing, Chongqing and Huzhou, as well as 12 branch offices across China.
Admixtures are used to provide concrete with superior application performance. Admixture technologies make concrete easier to place and finish, allowing construction to continue even in very hot or very cold temperatures, accelerating or delaying the hardening of concrete and increasing final strength and durability.
Customers include ready-mix concrete producers, pre-cast operators, dry-cast and concrete block manufacturers, as well as contractors active in civil, commercial, institutional and residential construction.
Hi Con China was established in 1996 and is located in Sichuan’s Pengshan County. It also has a branch in Suzhou, Jiangsu Province. The company produces a range of concrete admixtures as well as intermediate products needed for their production. Hi Con’s operations outside of China are not part of the acquisition.