BASF Coatings Division announces continued growth
NOF Corporation and BASF Coatings AG have agreed to conduct a feasibility study for joining their entire coatings business in Japan and signed a Letter of Intent hereto. The partners intend to complete the feasibility study by March 2000.
NOF and BASF are currently operating two joint ventures in Japan: BASF Nichiyu Coatings R&D Co., Ltd., specialized in research and development of automotive OEM coatings, and Nippon R-M Co., Ltd., specialized in sales and marketing of automotive refinish paints. NOF and BASF intend to optimize these two joint ventures and include them together with
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