DSM completes sale of DSM Elastomers to LANXESS
Royal DSM, the global Life Sciences and Materials Sciences company, today announces that it has completed the sale of DSM Elastomers to LANXESS for € 310 million on a cash and debt-free basis. This completes the final stage of the transformation of DSM that began with the divestment program DSM announced in September 2007 as part of its Accelerated Vision 2010 program.
After all regulatory approvals were received DSM and LANXESS completed the transaction effective as per 1 May 2011. The transaction, which was announced on 14 December 2010, will result in a book profit of more than € 100 million for DSM in Q2 2011.
DSM Elastomers produces the synthetic rubber ethylene-propylene-diene monomer (EPDM) under the brand name Keltan®. DSM Elastomers, based in Sittard-Geleen in the Netherlands, has roughly 420 employees worldwide and will become part of the Technical Rubber Products business unit of LANXESS. Employees have transferred to the new owner. LANXESS plans to transfer the headquarters for the combined EPDM business from Marl (Germany) to Sittard-Geleen.
DSM - Bright Science. Brighter Living.(TM)
Royal DSM N.V. is a global science-based company active in health, nutrition and materials. By connecting its unique competences in Life Sciences and Materials Sciences DSM is driving economic prosperity, environmental progress and social advances to create sustainable value for all stakeholders. DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as food and dietary supplements, personal care, feed, pharmaceuticals, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy and bio-based materials. DSM's 22,000 employees deliver annual net sales of about € 9 billion. The company is listed on NYSE Euronext. More information can be found at www.dsm.com
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DSM Corporate CommunicationsHerman Betten
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Source: DSM N.V. via Thomson Reuters ONE