BASF has entered into a definitive agreement to fully acquire the business and assets in Taiwan and Mainland China of Taiwan Sheen Soon (TWSS), a leading manufacturer for thermoplastic polyurethanes (TPU) adhesives base material, for an undisclosed amount.
“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. 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,” said Raimar Jahn, President, Performance Materials, BASF.
The acquisition of the adhesives business of TWSS complements BASF’s established position in TPU extrusion as well as injection moulding 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, BASF will become an integrated solution provider for thermoplastic polyurethanes 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.
“TWSS’s cutting edge and proven technologies enable us to offer innovative solutions in a more integrated and efficient manner. Accordingly, the acquisition will greatly benefit our customers in short innovation cycle segments such as shoes,” said Albert Heuser, president, Greater China and Functions Asia Pacific, BASF.
“TWSS’s unique expertise for TPU adhesives is backed by established long-standing customer relationships and a global presence. TWSS’s existing customers and employees will gain access to the full portfolio of BASF products, technical expertise and resources through this acquisition,” said Jason Chou, managing director and owner of Taiwan Sheen Soon, who will continue to oversee the business as a consultant to BASF.
“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. 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,” said Raimar Jahn, President, Performance Materials, BASF.
The acquisition of the adhesives business of TWSS complements BASF’s established position in TPU extrusion as well as injection moulding 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, BASF will become an integrated solution provider for thermoplastic polyurethanes 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.
“TWSS’s cutting edge and proven technologies enable us to offer innovative solutions in a more integrated and efficient manner. Accordingly, the acquisition will greatly benefit our customers in short innovation cycle segments such as shoes,” said Albert Heuser, president, Greater China and Functions Asia Pacific, BASF.
“TWSS’s unique expertise for TPU adhesives is backed by established long-standing customer relationships and a global presence. TWSS’s existing customers and employees will gain access to the full portfolio of BASF products, technical expertise and resources through this acquisition,” said Jason Chou, managing director and owner of Taiwan Sheen Soon, who will continue to oversee the business as a consultant to BASF.