BASF and Ji’Ning Hock Mining & Engineering Equipment Company Limited ("Hock") have signed an agreement to form an enterprise in which BASF takes a 75% majority stake. Hock, a well-established Chinese producer of chemical injection and cavity filling products for mining and other underground applications, will bring in all its current business activities into the new company. The transaction is subject to clearance by relevant authorities in
The new company will produce chemical injection and cavity filling products for mining and other underground applications. Both BASF and Hock share the same philosophy on developing high quality safety measurement for mining and underground construction projects. The new venture is committed to developing technologies and products that help improve safety and productivity of mining operations.
“With this acquisition BASF demonstrates its long term commitment to the underground construction and mining industry as a global business. We will bring our best technologies to the industry in China” said Dr. Tilman Krauch, President Construction Chemicals, BASF. “With its well-established market position and reputation in the mining industry, Hock provides both product expertise and a strong customer base. Combined with BASF’s technology capabilities, expertise in environment, health, and safety as well as strength in innovation, the new venture is set to be an important partner to local as well as global mining experts.”
"According to our Asia Pacific Strategy 2020, we will invest €2.3 billion in the Asia Pacific region between 2011-2015. With this investment we are supporting industries in
“We are very happy that Mr. Cui Jinsheng, founder of Hock, will continue as the future manager of the enterprise. His rich experience and reputation in the industry are great assets to us. Together with our international network of research and development capabilities and expertise, we are well-equipped to serve mining customers in this important growth market,” said Mr. Mark Volmer, Senior Vice President, Construction Chemicals
Hock is a well-established Chinese producer of chemical injection and cavity filling products for mining and other underground applications. Through chemical injection and cavity filling, substances such as polyurethanes or other construction chemicals can be introduced into fractured rock, sands, gravel or coal to avoid water or gas accumulation and stabilize cavities in tunnels. In 2010, Hock had sales of about €50 million.