As part of BASF's investments in North America over the next two years, in recent days executives gathered at the Tultitlan Plant to break ground for a new waterborne production plant at the company’s manufacturing site.
The new facility will provide sustainable solutions for the growing automotive market in Mexico. Waterborne basecoat and primer sales are expected to grow due to the increased market demand for water based colors and coatings.
"Production in our market, especially in Mexico, is growing and BASF is well positioned to take advantage of this growth,” said Chris Toomey, BASF Senior Vice President, NA Coatings Solutions. “As the number one chemical supplier to the automotive industry and one of the world's top three suppliers of automotive paint, our strategy is being fulfilled today as we continue to invest and grow our capacity."
“As an innovative company and global leader in integrated processes, BASF is committed to sustainability,” said Frank Hezel, Vice President, BASF Coatings Mexico. “That's why, over 20 years ago, BASF invested in waterborne technology and continues to make investments in sustainable technologies."
Acquisition of Grupo Thermotek, completed
Following the approval of local government authorities, BASF has completed the acquisition of Grupo Thermotek, a leading waterproofing systems supplier based in Monterrey, Mexico. The companies had announced the transaction on April 24, 2017. Through this acquisition, BASF’s Construction Chemicals division strengthens its channels to market and builds on its portfolio of brands for construction professionals.
Thermotek, founded as a privately held company in 1992, is well-positioned in the waterproofing systems market in Mexico. Its products are designed to offer maximum quality on virtually every type of substrate and include resinous and dispersion-based materials as well as modified asphalt sheet membranes. The company has more than 200 distributors in the region and employs approximately 500 people.
The transaction includes the well-known Thermotek and Chovatek brands, and others, which will continue to be sold through retail channels, material houses and local hardware stores.