January 5 2015

Biesterfeld buys out Nordic JV Partner

Biesterfeld Plastics acquires outstanding Shares in JV Biesterfeld Nordic AB

Polymers distributor Biesterfeld Plastic GmbH (Hamburg, Germany) has recently purchased the outstanding shares in the Joint Venture Biesterfeld Nordic AB (Malmö, Sweden), from former JV-partner Fred Holmberg & Co AB, bringing its ownership from 50 to 100%,

As part of this transaction, which came into effect on 01. December 2014, Biesterfeld Plastic also took over the Finnish subsidiary of the company, Biesterfeld Nordic & Co OY, located in Hamina, Finland.

The JV had initially been established in 2012. No financial details were disclosed on the transaction.

Source: Biesterfeld website

HGE – DCG / 05.01.2015

DistriConsult comment: Biesterfeld’s former JV-partner Fred Holmberg & Co AB was acquired by Brenntag later in December (see separate news item on this website).

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