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Covestro Completes DSM Resin Business Acquisition

Monday, April 12, 2021

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Global polymer company Covestro announced at the beginning of the month that it has successfully completed the acquisition of Royal DSM’s Resins & Functional Materials business.

The transaction was initially announced in September with a price tag of 1.61 billion euros ($1.9 billion) and has since received the necessary regulatory approvals.

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 polymer company Covestro announced at the beginning of the month that it has successfully completed the acquisition of Royal DSM’s Resins & Functional Materials business.

“The acquisition of RFM significantly contributes to the implementation of our new Group strategy. With this transaction, we are taking another important step towards sustainability, while at the same time generating sustainable growth,” said Markus Steilemann, CEO of Covestro. “We are looking forward to meeting our new colleagues and warmly welcoming them to Covestro.”

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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