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DSM and BUFA Finalise European Joint Venture Agreements

  • Friday, 3rd April 2009
  • Reading time: about 2 minutes

DSM and BUFA have created Euroresins, a pan-European distribution and support network, and BUFA Gelcoat+, a developer and manufacturer of gelcoats, adhesives, pigment pastes, and fire retardant products.

Both companies will operate a shared business structure, with DSM having a majority share in the distribution business of Euroresins, and BÜFA taking the lead in the business for gelcoat, fire retardants and adhesives.

The intention to work together was announced in November last year, and now all contracts have been signed. Both companies presented themselves at the JEC Composites show in Paris last week, literally under one roof, providing a visual indication of the level of cooperation between DSM and BUFA. Work is underway to make the shared business structure a practical reality, which will involve aligning product ranges, and the transfer of some customers to either one of the JVs.

Michael Effing, President, DSM Composite Resins, said “This is great news both for DSM and the Industry. The agreement allows innovative and versatile small to mid-sized companies to gain unprecedented access to the latest technologies, industry know-how and a wide range of products while allowing DSM Composite Resins to focus on its core competency and goal: to provide innovative and sustainable products and composite solutions for the market. DSM will also continue its efforts to provide high performance specialty products for high-tech and niche applications, and will continue to lead the industry with a full pipeline of innovations.” Dirk Punke, Managing Director, BÜFA ‘Gelcoat+’, said “The important point here is that we are set free to focus on our specialist products like gelcoats, adhesives, pigment pastes and fire retardants. Now that BÜFA and DSM are aligning their product range, we can serve the customer much effectively in specialty areas and concentrate our efforts on where we are most proficient. Using Euroresins as an intermediary to manage the relationship with the thousands of smaller companies is an important part of making this alignment a practical reality.”

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