Prosol to purchase Relius coatings business in Germany and France
German based chemical company BASF has signed a contract to sell its Relius Coatings decorative paints business in Germany and France to Prosol Lacke + Farben.
The sale involves the Memmingen site and 30 distribution points in Germany and France, excluding the business sites in Netherlands and Oldenburg site, Germany.
BASF coatings division president Dr Markus Kamieth said Relius Coatings has a very experienced team, 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,"Kamieth added.
Prosol managing director Dieter Prosch said, "We are very pleased with the purchase of the decorative paints business of Relius Coatings."
According to BASF, Prosol will take over the employment of all the 350 Relius Coatings employees and the deal is expected to be completed on 30 November 2012.
Relius Coatings business includes construction paints, plaster, varnishes and glazes for construction application.