BASF sells Germany, France decorative paints businesses of Relius

16 August 2012 13:49  [Source: ICIS news]

LONDON (ICIS)--BASF has sold the decorative paints businesses of its subsidiary Relius Coatings in Germany and France to paints and coatings seller Prosal, the chemicals major said on Thursday.

The sale of the businesses includes Relius’s Memmingen site in Germany, as well as 30 distribution points in Germany and France.

The purchase price of the deal, which is scheduled to be completed on 30 November, was not disclosed.

Relius’s decorative paints business in the Netherlands is not part of the transaction. The industrial coatings business of Relius Coatings at its Oldenburg site in Germany is also not affected and will remain part of BASF, the company said.

"We are confident that this business can have a successful perspective at Prosol that has its core competencies in construction paints", said Markus Kamieth, president of BASF's coatings division.

Dieter Prosch, Prosol’s managing director, said: "It [the acquisition] perfectly fits in with our portfolio and expands our network of sites."

By: Franco Capaldo
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