€2.5bn written off AkzoNobel paint business
19 October 2012 Business
Company records loss on back of impairment
BASF parts with paints
17 August 2012
BASF is to sell the decorative paints business of subsidiary Relius Coatings – based mainly in Germany and France – to German wholesaler Prosol for an undisclosed price. The deal covers the Memmingen site in Germany as well as 30 distribution points and 350 workers, who will all transfer to Prosol. It does not cover the decorative paints business of Relius Coatings in the Netherlands or the the Oldenburg site in Germany, which will remain part of BASF.
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