{"id":18129,"date":"2020-10-06T19:16:59","date_gmt":"2020-10-06T17:16:59","guid":{"rendered":"https:\/\/www.hollandbio.nl\/?p=18129"},"modified":"2020-10-06T19:17:00","modified_gmt":"2020-10-06T17:17:00","slug":"dsm-announces-sale-of-resins-functional-materials-businesses","status":"publish","type":"post","link":"https:\/\/www.hollandbio.nl\/en\/nieuws\/dsm-announces-sale-of-resins-functional-materials-businesses\/","title":{"rendered":"DSM announces sale of Resins &#038; Functional Materials businesses"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Royal DSM, a global science-based company in Nutrition, Health and Sustainable Living, announced that it has reached an agreement to sell its <a href=\"https:\/\/www.dsm.com\/corporate\/about\/businesses\/dsm-resins.html\">Resins &amp; Functional Materials<\/a> and associated businesses (together, \u201cRFM\u201d) to Covestro AG for an Equity Value of \u20ac1.6 billion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The proposed transaction is another step forward in DSM\u2019s evolution as a purpose-led, science-based company operating in the fields of Nutrition, Health, and Sustainable Living. It follows DSM\u2019s recent acquisitions of the Erber Group (expected to close shortly), Glycom, and CSK.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The transaction will include all of DSM\u2019s Resins &amp; Functional Materials businesses, including <a href=\"https:\/\/www.dsm-niaga.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">DSM Niaga\u00ae<\/a>, <a href=\"https:\/\/www.dsm.com\/corporate\/about\/businesses\/dsm-additive-manufacturing.html\">DSM Additive Manufacturing<\/a> and the coatings activities of <a href=\"https:\/\/www.dsm.com\/corporate\/about\/businesses\/dsm-advanced-solar.html\">DSM Advanced Solar<\/a>. These businesses represented \u20ac1,012 million of DSM\u2019s 2019 total annual net sales and \u20ac133 million of DSM\u2019s 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 \u20ac1.4 billion net in cash following closing, including repayment of RFM\u2019s net debt, and after transaction costs and capital gains tax.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Geraldine Matchett and Dimitri de Vreeze, Co-CEOs of Royal DSM, commented: \u201cT<em>his 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<\/em>.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">DSM Resins &amp; 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\u00ae, a VOC-free adhesive and a proprietary production technology for fully-recyclable carpets, mattresses and furniture components.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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\u2019s activities in next-generation backsheets for photovoltaic modules remains as DSM Advanced Solar as part of DSM.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Source: DSM (<span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.dsm.com\/corporate\/news\/news-archive\/2020\/30-20-dsm-announces-sale-of-resins-and-functional-materials-businesses.html\">Press release<\/a><\/span>)<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Royal DSM, a global science-based company in Nutrition, Health and Sustainable Living, announced that it has reached an agreement to sell its Resins &amp; Functional Materials and associated businesses (together, \u201cRFM\u201d) to Covestro AG for an Equity Value of \u20ac1.6 billion. The proposed transaction is another step forward in DSM\u2019s evolution as a purpose-led, science-based [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[43],"tags":[],"class_list":["post-18129","post","type-post","status-publish","format-standard","hentry","category-innovatieklimaat"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>DSM announces sale of Resins &amp; Functional Materials businesses - hollandbio<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.hollandbio.nl\/en\/nieuws\/dsm-announces-sale-of-resins-functional-materials-businesses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DSM announces sale of Resins &amp; Functional Materials businesses - hollandbio\" \/>\n<meta property=\"og:description\" content=\"Royal DSM, a global science-based company in Nutrition, Health and Sustainable Living, announced that it has reached an agreement to sell its Resins &amp; Functional Materials and associated businesses (together, \u201cRFM\u201d) to Covestro AG for an Equity Value of \u20ac1.6 billion. 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