BASF and Oriental Yuhong sign a Memorandum of Understanding to expand and upgrade collaboration
- Partnership to accelerate the development and launch of solutions for the construction industry
- Upgraded portfolios with safe, reliable and innovative products and solutions for different application segments
- Cocreating sustainable solutions to address market needs and contributing to the green transformation of the construction industry
Shanghai, China – April 29, 2024 – BASF and Oriental Yuhong, a leading Chinese company in the construction waterproofing industry, signed a Memorandum of Understanding (MoU) in Beijing, aiming to further collaborating and joining forces to create more high-quality and sustainable construction solutions. This collaboration is a fully-fledged upgrade from the Joint Development Agreement (JDA) signed by the two companies in 2019. It is also an important measure for both companies to cultivate and develop new productive forces for deeper, broader, and higher-level cooperation. BASF and Oriental Yuhong will launch a series of brand-new collaborations to accelerate the launch and promotion of new technologies and projects in various areas, including waterproof materials, architecture coatings and insulation materials.
“High-quality, sustainable materials and solutions are indispensable for the green transformation of the construction industry. Both BASF and Oriental Yuhong are active advocates of sustainable building materials”, said Henry Paeckert, Senior Vice President, Business & Market Development Greater China, BASF. “With BASF’s unique insights into the construction sector and broad portfolio of innovative solutions together with Oriental Yuhong’s proven application know-how and integrated capabilities in terms of waterproofing solutions, I strongly believe our two companies jointly will further leverage our strengths and collective efforts, drive innovation, and contribute to sustainable urban development.”
“Today, challenges and opportunities co-exist in our industry, and this is a crucial point in history to hone our skills and harness our potential. BASF and Oriental Yuhong are highly aligned on the innovation and sustainability fronts. The signing of this MOU marks the beginning of our full-on collaboration to provide holistic system solutions for the construction segment and address our customers’ needs in quality, efficiency, and sustainability”, said Xiang Jinming, Vice Chairman and President of Overseas Strategic Development, Oriental Yuhong. “With BASF’s strong chemical research capabilities and its unique edge in integrated Verbund sites, we will launch many more highly efficient, safe, reliable and innovative products that meet market demands and make a positive impact on the construction and building materials segment in China and beyond.”
The collaboration between BASF and Oriental Yuhong has lasted over 20 years, with a solid foundation, fruitful achievements and broad prospects. The two companies have mutually benefited from each other’s expertise, driven research and development together, and launched a series of research achievements.
About BASF
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. Around 112,000 employees in the BASF Group contribute to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio comprises six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €68.9 billion in 2023. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the United States. Further information at www.basf.com.
About Oriental Yuhong
Founded in 1995, Oriental Yuhong has devoted itself to providing high-quality waterproofing system solutions for tens of thousands of major infrastructure projects and industrial, civil and commercial buildings over the past 20 plus years. It has developed into a leading service provider in the construction and building materials industry. Oriental Yuhong always pursues high quality and stable development. It focuses on waterproofing services and extends its business to upstream and downstream sectors as well as relevant industry chains. The company has formed strong building material service capabilities, including building waterproofing, civil building materials, non-woven fabric, building coating, building maintenance, efficient insulator, mortar powder, innovative films, etc. It has also won numerous awards including the17th China Quality Award (2017), National Quality Benchmark, and National Technological Innovation Demonstration Enterprise and has been listed on Fortune China 500 as one of China's Top 500 Private Enterprises.
Oriental Yuhong pursues sustainable development ceaselessly. It promotes scale development on the basis of science and technology, excellent products, satisfactory services, and safety & environmental protection. As a construction and materials system service provider, Oriental Yuhong’s high-quality products and professional services have been adopted in the fields of buildings, highways, urban roads and bridges, metros, urban railways, high-speed railways, airports, and water conservation facilities. Exemplary projects include the Great Hall of the People, the Beijing Olympic venues such as the National Stadium (the Bird’s Nest) and the National Aquatics Center (the Water Cube), as well as key infrastructure projects such as the Beijing-Shanghai high-speed railway and the Beijing Metro. For more information about Oriental Yuhong, please visit: http://www.yuhong.com.cn/ .
