BASF signs agreement with Wearnes-StarChase Group in Mongolia, entering North Asian market
- StarChase Motorsports Mongolia LLC, a wholly-owned subsidiary of Wearnes-StarChase Group, will become the authorized importer of BASF's Coatings solutions
- BASF has been in partnership with StarChase in China since 2007
BASF has recently signed an agreement with StarChase Motorsports Mongolia LLC, the wholly-owned subsidiary of Wearnes-StarChase Group in Mongolia. Under the agreement, StarChase will be the authorized importer of Glasurit, the premium refinish paint brand of BASF, in Mongolia.
Wearnes-StarChase is a unique pan-Asian vehicle distributor with a strong footprint in the luxury and premium segment of the vehicle market. The top-ranked distributor has operated Porsche and Jaguar Land Rover dealerships in Ulaanbaatar, the capital of Mongolia since 2013. BASF has been in partnership with StarChase in China with Glasurit since 2007.
"We are pleased to be able to build upon our partnership with StarChase and extend our presence to Mongolia for the first time," said Patrick Zhao, Senior Vice President, BASF Coatings Solutions, Asia Pacific. "This new agreement will allow BASF to reach StarChase’s body shop customers in Mongolia and offer them the same professionalism, efficiency and sustainability that we’ve been delivering across its network in Greater China."
"BASF is already an important business partner for the Wearnes-StarChase Group across all our operations in Greater China. We have jointly and successfully piloted the Glasurit 100 Line in our Porsche centers in China, and we are enjoying the benefits of a strong marketing cooperation in motorsport. We are proud that BASF now entrusts us with the importer responsibility for the Mongolian market as well, strengthening our partnership even further," said Robby Niermann, Chief Executive Officer Greater China, StarChase Motorsports Trading (Shanghai) Limited.
Mongolia’s economic growth is expected to rebound to 4.6% in 2021 and hit 6.0% in 2022 as concerns over COVID-19 ease, export-related transportation and logistics issues are resolved and domestic demand rises. "The country's fast urbanization and modernization have led to a greater demand for cars and automobile-related services," said Craig Wright, Managing Director, StarChase Group Mongolia. "It is important that StarChase remains at the forefront of being able to offer our customers the innovative products and services that BASF provides to us."
About BASF’s Coatings division
The Coatings division of BASF is a global expert in the development, production and marketing of innovative and sustainable automotive OEM and refinish coatings, decorative paints as well as applied surface treatments for metal, plastic and glass substrates in a wide range of industries. The portfolio is completed by the “Innovation Beyond Paint” program which aims at developing new markets and businesses. We create advanced performance solutions and drive performance, design and new applications to meet our partners’ needs all over the world. BASF shares skills, knowledge and resources of interdisciplinary and global teams for the benefit of customers by operating a collaborative network of sites in Europe, North America, South America and Asia Pacific. In 2020, the Coatings division achieved global sales of about €3.1 billion.
Solutions beyond your imagination – Coatings by BASF. For more information about the Coatings division of BASF and its products, visit www.basf-coatings.com.
About BASF
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. More than 110,000 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 is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €59 billion in 2020. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the U.S. Further information at www.basf.com
