BASF to Acquire Taiwan Sheen Soon
BASF SE, Ludwigshafen, Germany, has entered into a definitive agreement to fully acquire the business and assets in Taiwan and Mainland China of Taiwan Sheen Soon Co., Ltd (TWSS), a leading manufacturer for thermoplastic polyurethanes (TPU) adhesives base material.
“The acquisition is part of our efforts to systematically pursue growth in the attractive TPU market. It is a valuable addition to our existing TPU portfolio; strengthening our manufacturing footprint in Asia,” said Raimar Jahn, President, Performance Materials, BASF. “As TWSS has been at the forefront of TPU adhesives innovation, the acquisition is a strategic move that will strengthen BASF’s competences in this important growth field.”
The acquisition of the adhesives business of TWSS complements BASF’s established position in TPU extrusion as well as injection molding grades for various segments, such as footwear. An example of TPU application in the footwear segment is the “Energy Boost” running shoe from adidas, made with expanded TPU, which BASF markets under the name Infinergy.
With the acquisition, the company will become an integrated solution provider for TPU and TPU adhesives, which enhances its value proposition to customers. The acquisition is expected to close in 2015, pending necessary internal and external approvals. The integration will take effect in 2015. The parties have agreed not to disclose financial details of the agreement. BASF will secure and integrate all existing assets, customers and employees into the existing BASF legal entities and business. The company will also ensure a smooth transition and uninterrupted supply for customers.
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