DSM Composite Resins AG and BÜFA GmbH & Co. KG have announced their intention to change the ownership structure of their joint ventures Euroresins Europe Holding and BÜFA Gelcoat Plus. While the business relationships will be maintained, the new structure will lead to a less complex governance structure which aims at increased efficiency.
Euroresins will now be in two parts. One part, which covers the Euroresins companies which are active in Benelux, Nordic area, UK, Ireland, France, Spain, Italy and Turkey, will come under full and exclusive control of DSM. The other part of Euroresins will come under full and exclusive control of BÜFA Gelcoat Plus, which covers the Euroresins companies which are active in Germany, Austria, Switzerland, Poland and the Baltic states. The two separate parts will continue to focus on the needs of their customers.
DSM will transfer its stake in BÜFA Gelcoat Plus to BÜFA and consequently BÜFA Gelcoat Plus will come under full and exclusive control of BÜFA GmbH & Co. KG (Holding).
The closing of the relevant transactions is expected early 2013, being subject to approval by the relevant authorities.
Wilfrid Gambade, President DSM Composite Resins said;
Euroresins is and will remain the premium one-stop-shop distributor with a complete range for composite applications, 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.
Lothar Kempf, Managing Director BÜFA Gelcoat Plus GmbH & Co. KG said;
BÜFA Gelcoat Plus is one of Europe’s biggest suppliers of resin specialties in the composite market 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 gelcoats, fire retardant products, bonding pastes and pigment pastes to our customers directly or via the Euroresins network.