DSM sells composites distributor Euroresins
Material supplier Royal DSM has sold Euroresins, a distributor of products to the composite resins industry, to UK-based holding company Cathay Investments.
Euroresins operates in nine countries in Europe, including the UK, Italy and France. The company reports sales of approximately 90 million euros, and has approximately 70 employees.
According to a statement from Netherlands-based Royal DSM, the sale of Euroresins “is in line with the strategic actions DSM is pursuing for composite resins”.
Cathay Investments is the UK holding company for a group of companies engaged in chemical distribution and trading. Cathay’s principal trading business is Cathay Composites, which distributes glass fibre, resins and other composite materials throughout the UK and Scandinavia.
The transaction is expected to close in Q1 2015. The terms of the deal have not been disclosed.