BASF and Ji’Ning form joint venture in China”
Approval has been received on the establishment on the BASF Hock Mining Chemical (China) Co Ltd, a joint venture between BASF and
Ji’Ning Hock Mining & Engineering Equipment Company Limited, the chemical company said in a press release on October 24.
The new venture, in which BASF takes a 75% majority stake, will continue Hock’s business in chemical injection and cavity filling products for coal mining and other underground applications.
“With this investment BASF demonstrates its long term commitment to the underground construction and coal mining industry on a global basis. We will bring our best technologies to the industry in China and around the world,” said Dr Tilman Krauch, President Construction Chemicals at BASF. “With its well-established market position and reputation in the coal mining industry, Hock provides both product expertise and a strong customer base. Combined with BASF’s technology capabilities, expertise in environment, health, and safety as well as strength in innovation, the new venture is set to be an important partner to local as well as global mining experts.”
According to BASF, substances such as polyurethanes or other construction chemicals can be introduced into fractured rock, sands, gravel or coal through chemical injection and cavity filling to avoid water or gas accumulation and stabilize cavities in tunnels.
“Both BASF and Hock share the same philosophy on developing high quality safety measures for mining and underground construction projects. I am happy to stay and contribute to the new company,” said Cui Jingsheng, General Manager of BASF Hock Mining Chemical (China) Co Ltd and founder of Hock. “With this new joint venture we can match local and international expertise to better serve mining customers in this important growing market.”
BASF said the demand for coal is expected to rise for at least 20 years, in particular the non-OECD countries such as China and India where coal is the main source of power generation.
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