BASF Coatings to divest of Relius' deco paints activities.
7 October 2011 - BASF Coatings, part of German chemicals group BASF (ETR:BAS), plans to divest of the decorative paints activities of its subsidiary Relius Coatings in the near term, BASF said.
The activities to be sold include decorative paints and plaster, plus coatings and glazing for construction applications. They generated around EUR80m (USD107m) in sales for 2010.
Relius' sites in Memmingen, Germany, and Deurne, Netherlands, will be part of the divestment, in addition to distribution offices of the company.
The business with decorative paints located in South America and China will not be part of the transaction. The industrial coatings operations, managed from the Oldenburg site, will remain owned by BASF.
BASF attributed the move to its too low market share of deco paints in Germany.Country: Germany, Netherlands, Sector: ChemicalsTarget: Relius' decorative paints business Vendor: BASF SEType: DivestmentStatus: Auction
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|Publication:||M & A Navigator|
|Date:||Oct 7, 2011|
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