News Article 2014

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December 23 2014, David R Brown

DSM to sell composite raw materials distributor, Euroresins to Cathay Investments

Royal DSM, the global life sciences and materials company, has announceed it has reached agreement with Cathay Investments for the sale of Euroresins. Subject to customary approvals and notifications, the transaction is expected to close in Q1 2015. Financial details have not be disclosed at this time.

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Euroresins is a distributor of products to the composite resins industry with activities in nine countries in Europe, including the UK & Ireland, Benelux, Scandinavia, France, Spain, Italy and Turkey. In 2013 Euroresins generated sales of approximately €90 million with around 70 employees. All employees will on the closing date transfer to the new owner. The sale of Euroresins is in line with the strategic actions DSM is pursuing in terms of restructuring its Composite Resins business announced in November 2014.

The move follows the change in the Euroresins ownership structure agreed between DSM Composite Resins and BÜFA Holding in early 2013. This resulted in the Euroresin operations in Benelux, Nordic area, UK, Ireland, France, Spain, Italy and Turkey becoming wholly owned by DSM whilst the other part of Euroresins came under full and exclusive control of BÜFA Gelcoat Plus (now BÜFA Composites) which covered the Euroresins companies active in Germany, Austria, Switzerland, Poland and the Baltic states.

About Cathay Composites
Cathay Investments is the UK holding company for a group of companies engaged in chemical distribution and trading with combined revenues of around €40M. Cathay's principal trading business is Cathay Composites (formerly Umeco Distribution, acquired in 2013), which distributes glass fiber, resins and other composite materials throughout the UK and Scandinavia. Since its establishment Cathay has grown its portfolio to six companies.

Source(s): DSM Press Release

Further Information

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