The takeover was completed on Wednesday, November 2, when representatives of the two companies signed the agreement.
The contract covers the acquisition of products, technologies and customer order lists. Sites and manufacturing equipment are not included.
In 2004, the coil coatings business of Rhenania Coatings GmbH had sales of about €8 million. Financial details of the agreement were not disclosed.
The acquisition allows BASF Coatings to strengthen its coil coatings business, which is of strategic importance to the company, and at the same time to expand its technology competence regarding the coating of aluminium.
The technologies BASF is acquiring from Rhenania Coatings are applied mainly to aluminium bands supplied to the construction industry for further processing into structures that provide sun protection, for example.
Coil coatings are used to coat steel and aluminium coils employed in construction, transportation and the production of household appliances. It is a distinct application in which steel and aluminium bands are coated before being cut and shaped into panels.