DSM announced the sale of its resin and functional materials business.

Royal DSM Group, a global science company focused on nutrition, health and green living, has announced the sale of its resin and functional materials division and related businesses to Cosmodry for a stake of 1.6 billion euros.
as a mission-oriented global science company focused on nutrition, health and green living, this sale is an important step in DSM's business development.
, DSM had just acquired Erber Group (near completion), Glycom A/S and CSK of the Netherlands.
the deal includes the entire business of DSM Resin and Functional Materials, including DSM-Niaga®, DSM Materials Manufacturing and DSM Advanced Solar Coatings.
net sales for these businesses in 2019 were EUR 1,012 million and EBITDA was EUR 133 million.
will recalculate the materials business's earnings figures ahead of its third-quarter results.
of this transaction will be recognized upon completion.
completion of the transaction, DSM is expected to receive a net cash of EUR 1.4 billion, including debt repayments, post-transaction costs and value added tax for the Resin and Functional Materials Division.
the integration of DSM's Resin and Functional Materials division and Cosmos will further enhance business size and technical capabilities to provide a more powerful business development platform that benefits customers, prospects and employees on both sides.
deal is expected to be completed in the first half of 2021 in accordance with customary conditions and approval processes.
DSM has always been actively managing and restructuring its business, which has resulted in our decision to sell some of our business," said Geraldine Matchett and Dimitri de Vreeze, co-chief executives of DSM.
DSM is a mission-oriented global science company focused on sustained growth in nutrition, health and green living.
deal brings great value to DSM and is strategically attractive to all parties involved.
DSM and Cosmos share similar ideas in terms of cultural and sustainable development values.
believe that cosco's acquisition of the business is ideal for customers, colleagues and stakeholders.
, including the # Sustainable Coatings business and the functional materials business, offers highly specialized market-leading products, including resin products for coatings and other industrial applications, as well as fiber coatings.
related businesses also include DSM-Niaga ®, a patented production technology without VOC adhesives for recyclable carpets, mattresses and furniture components.
DSM Materials Manufacturing provides expertise in high-performance materials and deep applications in 3D printing, helping manufacturers rethink the way they design products for the future.
high-performance reflective coating for photovoltaic glass products with advanced DSM solar coatings.
, DSM will retain its innovative PV back panel product line, which is part of DSM Advanced Solar.
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