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DSM Composite Resins and BÜFA Holding announce change in ownership structure Euroresins and BÜFA Gelcoat Plus

Schaffhausen, CH, 17 Dec 2012 12:00 CET

DSM Composite Resins AG and BÜFA GmbH & Co. KG announce 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 and a better market approach.

Euroresins distribution company

Euroresins will be shaped into 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.

Gelcoat company

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.

Euroresins is and will remain the premium one-stop-shop distributor with a complete range for composite applications”, says Wilfrid Gambade, President 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.”

BÜFA Gelcoat Plus is one of Europe’s biggest suppliers of resin specialties in the composite market”, says 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 gelcoats, fire retardant products, bonding pastes and pigment pastes to our customers directly or via the Euroresins network.” 

BÜFA Group

BÜFA Gelcoat Plus is part of the BÜFA Group, a forward-looking provider of high-quality system solutions. The success achieved by BÜFA as an independent, medium-sized, family-owned business is based on tradition and frank collaboration in a spirit of mutual trust and confidence. As the central motor of the BÜFA Group, the strategic holding BÜFA GmbH & Co. KG forms the core of the business that was set up in 1883. It is the heart of all cross-divisional strategic tasks and innovative services. The holding encompasses five independent subsidiaries: BÜFA Glass, BÜFA Chemicals, BÜFA Cleaning Systems and BÜFA Gelcoat Plus and BÜFAtec. All activities are characterized by material development as well as a comprehensive range of services, but above all by intensive customer advisory services and support in a spirit of partnership. While expanding its European business BÜFA believes in strategic partnerships without losing the flexibility of a medium sized company. In 2011 the BÜFA Group with a workforce of 520 employees achieved a turnover of more than 175 million Euros.

Euroresins  

Euroresins Europe Holding GmbH & Co. KG is a leading European distributor of premium products for the composite industry. Euroresins offers premium products from leading principals such as DSM Composite Resins, BÜFA Gelcoat Plus, BÜFAtec machinery, PPG Fiber Glass, SAERTEX non-crimp fabrics, peroxides from United Initiators and Akzo, 3A core materials, and 3B continuous filament mat. The Euroresins brand represents professionalism, premium product quality, technical expertise and reliable logistics. Euroresins is the premium one-stop-shop with a complete product range for composite applications.