In a deal the financial details of which were not disclosed, DSM (Sittard / The Netherlands; www.dsm.com) on 23 December reached an agreement to sell its Euroresins (www.euroresins.com) composites distributor to holding group Cathay Investments (Sutton, Surrey / UK; www.cathay-investments.com). The transaction is expected to be completed in Q1 this year. DSM said the divestiture is part of its strategy to spin off its composite resins and certain assets in its Polymer Intermediates units (for details, see Plasteurope.com of 11.11.2014).

Euroresins is active in nine European countries, posting sales of about EUR 90m. Once the transaction is complete, all of its 70 employees will transfer to Cathay Investments, a UK-based holding group for companies engaged in chemical distribution and trading. Its main arm is Cathay Composites, which markets glass fibre, resins and other composites materials across the UK and Scandinavia.