DSM announces sale of Resins & Functional Materials businesses

HEERLEN, Netherlands, Sept. 30, 2020 — (PRNewswire) — The proposed transaction is another step forward in DSM's evolution as a purpose-led, science-based company operating in the fields of Nutrition, Health, and Sustainable Living. It follows DSM's recent acquisitions of the Erber Group (expected to close shortly), Glycom, and CSK.

 

DSM Logo

 

The transaction will include all of DSM's Resins & Functional Materials businesses, including DSM Niaga®, DSM Additive Manufacturing and the coatings activities of DSM Advanced Solar. These businesses represented €1,012 million of DSM's 2019 total annual net sales and €133 million of DSM's 2019 total EBITDA. DSM will provide re-stated figures for its Materials Cluster ahead of its Q3 results. DSM anticipates a book profit on the transaction to be recognized upon closing. DSM expects to receive approximately €1.4 billion net in cash following closing, including repayment of RFM's net debt, and after transaction costs and capital gains tax.

The combination of RFM and Covestro will create a business of enhanced scale and technological capability that will benefit existing and potential customers as well as its employees through a stronger platform for growth. Completion of the transaction, which is subject to the customary conditions and approvals, is expected in H1, 2021.

Geraldine Matchett and Dimitri de Vreeze, Co-CEOs of Royal DSM, commented: "This sale builds on our approach of actively managing our businesses, as DSM continues to evolve as a purpose-led, science-based company operating in the fields of Nutrition, Health and Sustainable Living. The deal delivers strong value to DSM and is strategically attractive for all parties. In Covestro, we recognize a company that shares similar views on culture and the value of sustainability. We know that Covestro will be a good owner of these businesses for customers, colleagues and other stakeholders."

About Resins & Functional Materials and associated businesses (RFM)

DSM Resins & Functional Materials, containing a Sustainable Coatings division and a Functional Materials division, provides highly-specialized, market-leading products such as resins for use in paints and other industrial applications, and optical fiber coatings. This includes DSM Niaga®, a VOC-free adhesive and a proprietary production technology for fully-recyclable carpets, mattresses and furniture components.

DSM Additive Manufacturing provides performance materials and deep application expertise in 3D-printing to help manufacturers rethink the way they design products to manufacture tomorrow. DSM Advanced Solar coatings are high performing anti-reflective coatings used for solar glass activities. The division's activities in next-generation backsheets for photovoltaic modules remains as DSM Advanced Solar as part of DSM.

DSM – Bright Science. Brighter Living.™

Royal DSM is a global, purpose-led, science-based company active in Nutrition, Health and Sustainable Living. DSM's purpose is to create brighter lives for all. DSM addresses with its products and solutions some of the world's biggest challenges while simultaneously creating economic, environmental and societal value for all its stakeholders – customers, employees, shareholders, and society at large. DSM delivers innovative solutions for human nutrition, animal nutrition, personal care and aroma, medical devices, green products and applications, and new mobility and connectivity. DSM and its associated companies deliver annual net sales of about €10 billion with approximately 23,000 employees. The company was founded in 1902 and is listed on Euronext Amsterdam. More information can be found at  www.dsm.com.

Or find us on:
Facebook
Twitter
LinkedIn
YouTube

 

PRN NLD

Contact:
Company Name: Royal DSM
DSM Media relations, Gareth Mead, tel. +31 (0) 45 5782420, email Email Contact DSM Investor Relations, Dave Huizing, tel. +31 (0) 45 5782864, email Email Contact
Web: http://www.dsm.com
Financial data for Royal DSM




Review Article Be the first to review this article

SolidCAM - See For Yourself

Featured Video
Editorial
Latest Blog Posts
Sanjay GangalMCADCafe Lens
by Sanjay Gangal
NVIDIA GTC October 2020 Keynote
Jobs
Mechanical Engineer for Flextronics at Milpitas, California
3D Designer and Developer for Los Alamos National Laboratory at Los Alamos,, New Mexico
Failure Analysis Engineer for Flextronics at Milpitas, California
Structural Engineer for Kiewit at Lenexa, Kansas
Architect for Hutton at Wichita, Afghanistan
Design Engineer (Engineer 1/2) for Los Alamos National Laboratory at Los Alamos,, New Mexico
Upcoming Events
DEVELOP 3D Live 2020 New Date November 3rd at Sheffield University ctagon and INOX Building, Durham Road Sheffield United Kingdom - Nov 3, 2020
Digital Twin 2020 - Now in November 2020 at Melbourne FL - Nov 4 - 5, 2020
Sensors Expo & Conference at McEnery Convention Center SAN JOSE CA - Nov 16 - 18, 2020
Spatial 3D Insider Summit - Free VR Event! at United States - Nov 16 - 17, 2020
Kenesto: 30 day trial



© 2020 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise