BASF has recently entered into an agreement to acquire Taiwan Sheen Soon (TWSS), a producer of 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.
TWSS has assets in Taiwan and Mainland China. The acquisition of TWSS will enable BASF to become an integrated solution provider for TPU and TPU adhesives. Jahn mentioned, “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 transaction is subject to necessary approvals and is expected to close in 2015.
“TWSS’s unique expertise for TPU adhesives is backed by established long-standing customer relationships and a global presence,” said, Jason Chou, Managing Director, TWSS. “TWSS’s existing customers and employees will gain access to the full portfolio of BASF products, technical expertise and resources through this acquisition.”
