JAPAN: BASF coatings JV wins deal with Toyota supplier
BASF AG's 50:50 coatings joint venture with Japan's NOF Corp, BASF NOF Coatings, has won a contract to supply a new one-coat, high-gloss metallic paint to Toyoda Gosei Co Ltd, AFX Asia reported.
Toyoda Gosei is a major supplier to Toyota Motor Corp. The contract is effective immediately and financial terms were not disclosed. In the past, exterior parts of cars and vans were painted in two coats. The new paint combines all of the properties of the previous two-coat system into a single layer. BASF's coatings division achieved world sales of €2 billion in 2003.