BASF SE’s BASFY Coatings division and INEOS Automotive have forged a comprehensive agreement to advance global automotive refinish body and paint development. The collaboration marks a long-term strategic alliance aimed at surpassing industry benchmarks in vehicle body repair and paint refinish. Together, the partners pledge to deliver sustainable refinish solutions, expertise and cutting-edge digital color-matching solutions along with training initiatives.

INEOS Automotive expressed great enthusiasm about the partnership, stating its pleasure in joining forces with BASF to establish a top-tier sustainable paint program in the forthcoming years. This initiative aims to uphold the highest quality standards in paint-work repairs for premium vehicles. The company underscored BASF's crucial technical support and management expertise in advancing the latest body shop standards, ensuring that the INEOS Automotive network can rely on a partner that shares its commitment to excellence in customer service.

BASF SE Price and Consensus

 

BASF SE price-consensus-chart | BASF SE Quote

 

BASF is committed to upholding the most sustainable and efficient refinish practices at the highest level across the INEOS body shop network, spanning Europe, North America and Asia Pacific.

BASF has also highlighted the promising prospects in the automotive industry, expressing delight at the expanded engagement with INEOS Automotive. With its highly innovative portfolio of solutions now setting the industry standard, the company looks forward to aligning and complementing INEOS’ vision with its strategic principles, fostering a new, robust and mutually-rewarding partnership.

The collaboration between INEOS and BASF Coatings extends beyond the surface technology partnership for the INEOS Grenadier, the first off-road vehicle manufactured in Hambach, France, since 2021. With the new agreement, BASF deepens its collaboration with INEOS to implement and develop the body and paint program for the INEOS Grenadier and the newly launched double-cab pick-up variant called the Quartermaster.

In the past year, BASF’s shares have lost 1% compared with the industry’s 16.2% fall in the same period.

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Zacks Rank & Key Picks

BASF currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the Basic Materials space are Carpenter Technology Corporation CRS, sporting a Zacks Rank #1 (Strong Buy), Eldorado Gold Corporation EGO and Hawkins, Inc. HWKN, both carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.