DIC’s ambition of reaching a trillion yen (A$11.9 billion) in sales has moved closer with the acquisition of BASF’s global pigments business.

Buying pigments supplier BASF Colors & Effects broadens Sun Chemical’s portfolio as a global manufacturer of pigments including those for electronic displays, cosmetics, coatings, inks, plastics and specialty applications, and brings together complementary portfolios of technologies, products, manufacturing assets, supply chain and customer service.

DIC president and chief executive Kaoru Ino says the “important strategic addition” will help meet goals and provide a clear growth path for DIC.

Managing executive and general manager of Color Material Products Yoshinari Akiyama said closing the deal would allow them to combine the technological capabilities of both companies “so we continue to create new value and provide it to the market as the leading company in the pigment business”.

Between them, DIC and BCE have more than 30 pigment production facilities worldwide.

For Alexander Haunschild, senior vice president and managing director at BASF Colors & Effects, the agreement will help continue the growth path started in 2016. “We’re excited to see BCE continue down a path of growth and success,” he said.

A team is in place to ensure a smooth transition for customers and employees.