BASF (BASFY) Arm Opens New Aluminum Competence Center in Italy
BASF SE's BASFY Coatings division’s Surface Treatment business unit, operating under the Chemetall brand, recently unveiled its new Global Aluminum Competence Center in Giussano, Italy. The cutting-edge facility will improve Chemetall's position as a global provider of solutions for the surface treatment of aluminum substrates.
The Aluminum Competence Center was designed to consolidate Chemetall's extensive competencies in the field of aluminum surface treatment in one location. Following extensive studies of current capacity, development priorities and customer and market requirements, the existing Chemetall facility in Giussano was chosen as the best option.
Chemetall's centralization of aluminum research and development efforts enables it to develop technologies faster and more efficiently, resulting in transformative advancements in the field of anodizing and processing of this particular substrate.
The new global Aluminum Competence Center will help Chemetall bring novel surface treatment solutions to market faster. The concentration of its aluminum research and development efforts will result in pioneering technologies that address the difficulties of the company's worldwide clients, meet their needs, and, most importantly, provide long-term sustainable value.
The center at Giussano is a strategically significant step toward extending Chemetall's technological leadership. Aluminum, a lightweight metal with great availability, is used extensively in architectural, aeronautical and automotive construction. The new center fulfills the aluminum finishing industry's high-quality requirements, including QUALICOAT, GSB and QUALANOD.
Shares of BASF have lost 9.8% over the past year compared with a 15% decline of its industry.
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Zacks Rank & Key Picks
BASF currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include United States Steel Corporation X, Carpenter Technology Corporation CRS and Alpha Metallurgical Resources Inc. AMR.
United States Steel carrying a Zacks Rank #1 (Strong Buy). X beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 54.8%. The company’s shares have soared 64.1% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Carpenter Technology currently carries a Zacks Rank #1. CRS beat the Zacks Consensus Estimate in three of the last four quarters while matching it once, with the average earnings surprise being 12.2%. The company’s shares have soared 31% in the past year.
The Zacks Consensus Estimate for AMR’s current-year earnings has been revised upward by 69% in the past 60 days. It currently carries a Zacks Rank #1. AMR delivered a trailing four-quarter earnings surprise of roughly 9.6%, on average. AMR shares are up around 119.8% in a year.
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