BASF and Weixing Group Signed An Agreement in Mongolia to Enter The North Asian Market

BASF recently signed a cooperation agreement with Wearnes-StarChase Group in Mongolia (hereinafter referred to as Wearnes-StarChase Group in Mongolia), a wholly-owned subsidiary of the StarChase Group in Mongolia. According to the agreement, Starchaser will become the authorized importer of BASF's coating solutions in Mongolia and provide its repair network with high-quality solutions of BASF's high-end refinish brand Glasurit®.

Weixing Group is the leading auto dealership in the pan-Asian region and has a strong influence in the luxury and high-end auto market. This dealer has been authorized to carry out the distribution business of Porsche and Jaguar Land Rover brands in Ulaanbaatar, the capital of Mongolia since 2013. BASF has established a cooperative relationship with Starchaser in China since 2007, providing it with the high-end refinish brand Glasurit® Parrot®.

Zhao Zhengyu, Senior Vice President of Solutions Asia Pacific of BASF Coatings Division, said: "We are very pleased to further deepen our partnership with Starchaser and expand our business to the Mongolian market for the first time. The signing of the new agreement will give BASF the opportunity to follow the star. Mongolian auto repair shop customers provide us with the professional, efficient and sustainable services we have always done in Greater China."

Robby Niermann, Chief Executive Officer of the Greater China Region of Starchasing Automotive Trading (Shanghai) Co., Ltd., said, “BASF has always been an important partner of Weixing Group in all its businesses in Greater China. We are in China. In cooperation with the Porsche Center, we successfully launched the Glasurit® 100 series and benefited a lot from strong marketing cooperation in motorsports. BASF is now further strengthening our cooperation with us to deliver the responsibility of importers in the Mongolian market To us, it makes us proud."

With the easing of the new crown epidemic, export-related transportation and logistics problems have been resolved, and domestic demand has gradually recovered. Mongolia's economic growth is expected to rebound to 4.6% in 2021 and reach 6.0% in 2022. Craig Wright, General Manager of Starchaser Group Mongolia, said: “Mongolia’s rapid urbanization and modernization process is continuously expanding its demand for automobiles and car-related services. For Starchaser Group, it is important to stay at the forefront of the market and be able to provide customers with BASF. Innovative products and high-quality services."