BASF AG, saying sales growth in the chemicals sector is expected to trail global economic growth over the next decade, announced revisions in its business strategy and introduced a new corporate logo, and said it will direct its biggest investments at businesses that deliver the greatest profitability.
DuPont Co. and Kansai Paint Ltd. of Japan agreed to terminate their automotive-coatings joint-venture relationships, citing "incompatible global strategies." The companies did not provide further details or comment on the action.
The Dow Chemical Co. announced a reorganization of its global business groups into three units as part of an effort to improve the company's financial performance and strengthen long-term prospects.
Tikkurila Coatings Oy, responsible for Kemira's industrial coatings activities, has acquired Akzo Nobel Coatings' general industrial liquid coatings activities in Hungary.
The Valspar Corp. has acquired De Beer Lakfabrieken, a privately owned manufacturer of automotive-refinish coatings based in Lelystad, The Netherlands.
ICI Paints' North American division has acquired eight architectural-paint stores in the San Joaquin Valley of California from Wilshire Paint Co. in a transaction that ICI Paints said expands the company's total of retail paint stores to 75 in the state.
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