Münster, Germany -- BASF signed a contract 14 Aug to sell Prosol Lacke + Farben GmbH, which is the decorative paints business of Relius Coatings GmbH & Co. KG in Germany and Relius France SAS in France. The business makes construction paints and plaster as well as varnishes and glazes for construction uses, and is based mainly in Germany and France.
The sale of the business includes the Memmingen site in Germany as well as 30 distribution points in Germany and France. The transfer is scheduled to be completed 20 Nov 2012, and the parties agreed to not disclose the purchase price.
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.
But BASF added that the industrial coatings business of Relius at Oldenburg in Germany is 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 is taking over the employment of these employees.
"Relius Coatings has a very 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 of BASF's Coatings Division, in the announcement.
For Prosol, managing director Dieter Prosch, commented that the Relius unit fits perfectly with Prosol's portfolio and expands its network of sites.