Press release BoxID: 173713 (BASF Coatings GmbH)
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BASF and Valvoline sign new licensing agreement

(PresseBox) (Münster, ) BASF SE and Valvoline, a division of Ashland Inc., have signed a new contract for the reciprocal licensing of engine coolants. This agreement replaces an existing licensing arrangement signed in 1994, the year Valvoline had acquired the coolant business in North America from BASF including the Zerex trademark.

Under the terms of the new agreement, Valvoline can now use certain of BASF's coolant technologies and in return BASF can use certain of Valvoline's technologies.

"The resulting benefit to automotive manufacturers is that they can obtain the same approved coolants both for first fill in the factory and for subsequent servicing and maintenance throughout the world from BASF and Valvoline," says Dr. Fran Lockwood, Valvoline's Senior Vice President of Technology.

Dr. Hartmann Leube, Director of Strategic Marketing and Product Development for BASF's Automotive Chemicals business unit, explains, "The new licensing agreement for reciprocal use of technologies means the continuation of a successful technological cooperation that provides state-of-the-art coolants and combines them with a global profile."