DSM Composite Resins AG, headquartered in Switzerland, and BÜFA GmbH & Co KG, Germany, formed the two joint ventures in 2009. One combined the two companies' European gel-coats, bonding pastes, pigment pastes and fire retardants businesses. The other combined their European distribution activities.
DSM Composite Resins previously owned Euroresins.
Euroresins to be split into two
Distribution company Euroresins will be restructured into two parts.
One will cover the Euroresins companies active in Benelux, the Nordic area, the UK, Ireland, France, Spain, Italy and Turkey, and will be under the exclusive control of DSM.
The other part, covering the Euroresins companies active in Germany, Austria, Switzerland, Poland and the Baltic states, will be controlled by BÜFA Gelcoat Plus.
“Euroresins is and will remain the premium one-stop-shop distributor with a complete range for composite applications”, says Wilfrid Gambade, President of DSM Composite Resins.
“Our intention is, while maintaining the business relationships with BÜFA Gelcoat Plus, to de-complex the governance and increase the efficiency of the Euroresins group. In the new structure, the distribution group of DSM and of BÜFA will both continue to be a reliable partner for the European composite industry which can offer a complete, first class product portfolio, backed by superb technical service.”
DSM to transfer stake in gel-coat company
DSM will transfer its stake in BÜFA Gelcoat Plus to BÜFA, which will consequently come the under full control of BÜFA GmbH & Co. KG (Holding).
The closing of the relevant transactions is expected early 2013, subject to approval by the relevant authorities.
“BÜFA Gelcoat Plus is one of Europe’s biggest suppliers of resin specialties in the composite market,” notes Lothar Kempf, Managing Director BÜFA Gelcoat Plus GmbH & Co KG.
“The heart of our activities is the modern production facility in Rastede, North Germany. In the revised set up BÜFA Gelcoat Plus will control some distribution entities for 100% which implies a simplification of governance while maintaining a very strong European coverage. The good business relationship with DSM will allow us to offer an optimal portfolio of high quality gel-coats, fire retardant products, bonding pastes and pigment pastes to our customers directly or via the Euroresins network.”
