BASF sells RELIUS decorative paints business PROSOL

BASF sells RELIUS decorative paints business to PROSOL

5:54 AM, 17th August 2012
BASF sells RELIUS decorative paints business to PROSOL
Dr Markus Kamieth, President, BASF Coatings Division.

MUNSTER/ASCHAFFENBURG, GERMANY: BASF and PROSOL Lacke+Farben GmbH signed a contract regarding the sale of the decorative paints business of RELIUS Coatings GmbH & Co KG in Germany and RELIUS France SAS in France. The business encompasses construction paints and plaster as well as varnishes and glazes for construction application and is mainly based in Germany, France and some other selected countries in Europe. The transfer is scheduled to be completed on November 30, 2012. The companies did not disclose the financial details.

The sale of the business includes the Memmingen site in Germany as well as 30 distribution points in Germany and France. The decorative paints business of RELIUS in the Netherlands is not part of the transaction. BASF is currently negotiating the sale of this part of the RELIUS Coatings business. The industrial coatings business of RELIUS Coatings at the Oldenburg site in Germany is also not affected and will remain an integral part of BASF. Currently about 350 employees work in the decorative paints business of RELIUS Coatings in Germany and France. PROSOL takes over the employment contracts of these employees.

“RELIUS Coatings has an experienced team, state-of-the-art sites and well established brands. We are confident that this business can have a successful perspective at PROSOL that has its core competencies in construction paints,” said Dr Markus Kamieth, President, BASF Coatings Division.

“We are pleased with the purchase of the decorative paints business of RELIUS Coatings. It perfectly fits in with our portfolio and expands our network of sites,” said Dieter Prosch, Managing Director, PROSOL.

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