CNG acquires BASF admixture business in Korea 

• BASF construction chemicals business in Korea to focus on construction systems segments

Seoul, Korea – February 3, 2009 – BASF today announced that CNG Korea Co., Ltd. (“CNG”), a local concrete admixture supplier, has acquired BASF's concrete admixture business in Korea.

“This move is aligned with BASF's Korea strategy for our construction chemicals business, namely to focus on construction systems segments such as flooring, waterproofing, grouting, and concrete repair, which are expected to improve our profitability in Korea,” said Dr. Karsten Eller, Director of Operations and Investments, BASF Construction Chemicals Asia Pacific. “Our admixture business in other markets is not affected and remains a core activity in our regional strategy.”

Under the terms of the agreement, a team of 13 employees joins CNG, and BASF transfers BASF Construction Chemicals (Korea) Ltd., to CNG, including its production plant in Ansung and customer contracts.

“The acquisition represents a key milestone for CNG to grow in the Korean market,” said Mr. Chang Ji Han, President of CNG. “We will work closely with BASF to ensure that the customers will continue to receive the same products and services as before.” 


About BASF’s Construction Chemicals division
BASF’s Construction Chemicals division is the leading supplier of chemical systems and formulations for the construction industry. Continuous innovation and tailor-made solutions ensure its customers are more successful. Its Admixture Systems strategic business unit specifically helps customers in the ready-mix, pre-cast and manufactured concrete and underground construction industries. The Construction Systems strategic business unit offers a wide range of products for sports and industrial flooring, external renders and wall insulation, expansion joints and wood preservatives, as well as specialist repair mortars, tile adhesives and waterproofing membranes. The division operates production sites and sales centers in more than 50 countries and regions and achieved sales of €2.1 billion with approximately 7,100 employees in 2007. For further information, please visit www.ap.cc.basf.com  

About BASF
BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from oil and gas to chemicals, plastics, performance products, agricultural products and fine chemicals. As a reliable partner BASF helps its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges such as climate protection, energy efficiency, nutrition and mobility. BASF has more than 95,000 employees and posted sales of almost €58 billion in 2007. Further information on BASF is available on the Internet at www.basf.com.

About CNG
CNG (Chemical Next Generation) is a Korean construction chemicals company with over 16 years of expertise. The main products CNG manufactures are concrete admixtures for the construction industry and release agents for the automotive industry. The management includes experienced engineers and senior researchers with more than 10 years' experience in rapid development of new products. CNG offers excellent customer service, experienced industry engineering talent and a broad range of high-quality products and services to meet customers’ requirements in cooperation with Hanyang University.

Media contacts

Seoul: Lauren Kwon
Tel: +82 2 3707 7508
Fax: +82 2 3707 7889
lauren-taekyung.kwon@basf.com

Shanghai: Grey Guo
Tel: +86 21 2320 3923
Fax: +86 21 2320 3992
grey-rongjie.guo@basf.com