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Covestro Acquires DSM Resin Business

Thursday, October 8, 2020

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Global manufacturer Covestro announced late last month that it is acquiring Royal DSM’s Resins & Functional Materials business.

The price tag on the venture is 1.61 billion euros ($1.9 billion).

About the Deal

According to Covestro, the agreement adds about 1 billion euros in revenues and an EBITDA of 141 million euros. The deal is a strategic more to expand Covestro’s Coatings, Adhesives, Specialties segment by more than 40% to about 3.4 billion euros.

Covestro

Global manufacturer Covestro announced late last month that it is acquiring Royal DSM’s Resins & Functional Materials business.

“This acquisition is an important step for our corporate strategy,” said Markus Steilemann, CEO of Covestro.

“RFM enhances the growth trajectory of our business. By combining our strong innovation capabilities, sustainable product portfolios as well as complementary technologies and customer industries, we will unlock significant value. At the same time, it is also a key step to drive innovation for the transition towards a circular economy.“

According to the company, the acquisition will add a complete range of water-based polyacrylate resins and will expand its technology portfolio to include water-based hybrid technologies, powder coating resins as well as radiation curing resins.

RFM includes brands such as Niaga, as well as additive manufacturing, and an advanced solar coatings business.

Covestro also notes that both businesses are committed to Environment, Social, Governance goals and have a complementary research pipeline, especially in the area of sustainable high-performance raw materials for the coatings industry.

“Combining them will allow Covestro to be even more innovative in the field of coating resins and become an even more attractive R&D partner for its customers,” the company said “Thereby, Covestro will be able to drive innovation and to advance sustainability across the integrated customer industries as well as to pursue the transition to a circular economy even faster.”

   

Tagged categories: Acquisitions; Asia Pacific; Business matters; Covestro; DSM Coating Resins; DSM Functional Coatings; EMEA (Europe, Middle East and Africa); Good Technical Practice; Latin America; Mergers; North America; Z-Continents

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