DSM ACQUIRES CHINESE SYNTECH
[BIZ: Heerlen, NL,October 18] The acquisition will be cash earnings per share enhancing as of year one. The coating resins market in China is growing rapidly and Syntech has a leading position in the industry. Its flexible and modern production platform can be quickly adapted to expand production capacity. Syntech's activities are concentrated at one location in Shunde (Guangdong province). The site includes production facilities, self-owned R&D laboratories and a pilot plant for product development. The company's sales force is of a high quality and covers all relevant areas in China.
Dutch specialty chemicals company Royal DSM N.V. has acquired Syntech, a producer and marketer of coating resins. Syntech has annual sales of around USD 30 million, generated with a broad portfolio of coating resins. The acquisition of Syntech further strengthens DSM's liquid coating resins portfolio and will enable DSM to further accelerate the expansion of its activities in the Chinese market.
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