DSM-MMC SWAP
[BIZ: Heerlen, February 26] In May 2009 both companies already announced the signing of a memorandum of understanding for the intended swap. The transaction is subject to various external approvals. Closing is expected in Q2 2010. For both companies the businesses they will add to their portfolios as a result of the intended swap of activities provide a strong strategic fit. DSM Engineering Plastics will be 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.
DSM Engineering Plastics, a business group of the Netherlands-based Life Sciences and Materials Sciences company Royal DSM N.V., has announced that it has signed the contracts with Mitsubishi Chemical Corporation (MCC) enabling DSM to acquire MCC’s Novamid® polyamide business in exchange for DSM’s Xantar® polycarbonate business.
A number of key employees of DSM’s polycarbonate business will transfer to MCC. A number of employees of MCC will be 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).
DSM Engineering Plastics is one of the world's leading suppliers of quality engineering thermoplastics providing customer value through sustainable solutions that reflect the DSM People, Planet and Profit strategy. DSM Engineering Plastics delivers innovative opportunities for customers who design or produce electrical applications, electronic equipment, cars, barrier packaging films as well as many mechanical and extrusion applications. More on:
http://www.dsmep.com/