BASF inks MoU with Chinese Oriental Yuhong to upgrade collaboration

BASF inks MoU with Chinese Oriental Yuhong to upgrade collaboration

Cocreating sustainable solutions to address market needs and contributing to the green transformation of the construction industry

  • By ICN Bureau | May 01, 2024

BASF and Oriental Yuhong, a leading Chinese company in the construction waterproofing industry, signed a Memorandum of Understanding (MoU) in Beijing, to further collaborate and join 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.”

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