Heerlen, NL, 01 Jun 2010 09:15 CEST
DSM Engineering Plastics, a business group of the Netherlands-based Life Sciences and Materials Sciences company Royal DSM N.V., today announces that it has completed the acquisition of Mitsubishi Chemical Corporation’s (MCC) Novamid® polyamide business in exchange for DSM’s Xantar® polycarbonate business.
In February 2010 both companies signed the contracts for the swap. Both businesses have an annual net sales level of approximately €90 million each. The parties have agreed not to disclose other financial details.
For both companies the businesses they will add to their portfolios as a result of the swap of activities provide a strong strategic fit. DSM Engineering Plastics is able to further reinforce its position as one of the globally leading producers of polyamide engineering plastics and expand its position in Japan, an important market where innovation and sustainability are driving growth.
A number of key employees of DSM’s polycarbonate business are transferred to MCC. A number of employees of MCC are seconded to DSM. It is also envisaged that MCC will establish an R&D unit at the Chemelot Research and Technology campus in Geleen (Netherlands).