Sun Chemical and DIC Corporation Finalize Acquisition of BASF’s Global Pigments Business
02 July 2021: DIC Corporation has closed on the acquisition of BASF’s global pigments business, known as BASF Colors & Effects (BCE). The acquisition brings together the complementary portfolio of technologies, products, manufacturing assets, supply chain, and customer service of the two companies to serve customers globally.
“We’re excited to close our acquisition of BCE and expand our product offering as one of the leading pigment suppliers globally” says Kaoru Ino, President and CEO of DIC. “BASF’s pigments portfolio is an important strategic addition in expeditiously meeting the goals we’ve outlined, which provide a clear growth path for DIC with the target to increase our sales to 1 trillion yen (approximately €8 billion) by 2025.”
The purchase will broaden Sun Chemical’s portfolio as a global manufacturer of pigments, including those for electronic displays, cosmetics, coatings, inks, plastics, and specialty applications, by creating a world-class pigments supplier that offers customers an even wider range of versatile solutions.
“We’re pleased to welcome the valued and trusted expertise and engagement of BASF’s employees in the pigments business,” says Myron Petruch, DIC executive officer and president and CEO of Sun Chemical, a subsidiary of DIC Corporation.
“BCE is a strategic partner who aims for high growth and high added value by expanding functional pigments into niche applications. Due to the complementary regional footprint and product portfolio, the acquisition of BCE is ideal for the DIC pigments business,” says Yoshinari Akiyama, DIC Managing Executive officer and general manager of the Color Material Products Division. “Closing this deal enables us to combine the technological capabilities of both companies so we continue to create new value and provide it to the market as the leading company in the pigment business.”
Customers will benefit as the acquisition offers a unique opportunity to combine complementary expertise and best practices to develop ground-breaking innovative solutions for the marketplace. As a company that strives for Color & Comfort, DIC believes that it can contribute to its customers by providing colors to society and life.
