BASF to acquire Taiwanese adhesives manufacturer
BASF has announced that it is to acquire the business and assets of thermoplastic polyurethane (TPU) adhesive base material producer Taiwan Sheen Soon (TWSS) in Taiwan and Mainland China for a undisclosed sum. TWSS specialises in TPU for solvent-based and hot-melt adhesives. Established in July 1997, the company’s products are currently sold in more than 25 countries.
“The acquisition is part of our efforts to systematically pursue growth in the attractive TPU market,” said Raimar Jahn, BASF president of performance materials. “It is a valuable addition to our existing TPU portfolio, strengthening our manufacturing footprint in Asia.”
According to BASF, the acquisition of this adhesives business complements the German company’s offerings for the TPU extrusion and injection molding sectors. The integration of all existing assets, customers and employees into the existing BASF legal entities and business are expected to take place during 2015, pending necessary internal and external approvals.
Jason Chou, managing director and owner of TWSS, will continue to oversee the business as a consultant to BASF. As a result of this acquisition, existing TWSS customers and employees will reportedly gain access to the full portfolio of BASF products, technical expertise and resources.
Photograph shows key personnel meeting to confirm the acquisition including, third from left, Raimar Jahn (president of performance materials, BASF) and to his left, Jason Chou, TWSS managing director.
This article was originally published on page 3 of the February 2014 issue of SATRA Bulletin.