Netherlands based, Royal DSM said it is selling Euroresins, a distributor of products to the composite resins industry to UK based Cathay Investments.
Subject to customary approvals and notifications, the transaction is expected to close in the first quarter of 2015 and DSM did not disclose the financial details of the transaction.Netherlands based, Royal DSM said it is selling Euroresins, a distributor of products to the composite resins industry to UK based Cathay Investments.#
Euroresins has activities in nine European countries, including UK, Italy and France and has sales of around €90 million with around 70 employees.
DSM said the sale of Euroresins is in line with the strategic actions it is pursuing for Composite Resins, as announced earlier in November 2014.
Cathay Investments is a 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. (AR)
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