12.23.14
Royal DSM announced it has reached agreement with Standard Investment for the sale of DSM Synres, as well as with Cathay Investments for the sale of Euroresins. Subject to customary approvals and notifications, the transactions are expected to close in Q1 2015. Financial details will not be disclosed at this time.
DSM Synres produces solvent-borne alkyd and acrylic coating resins at its site in Hoek van Holland (The Netherlands) for the global coatings, adhesives and graphic arts markets since 1947. DSM Synres realizes sales of approximately €50 million with nearly 80 employees. All employees will on the closing date transfer to the new owner. Under the new ownership, Synres will continue to focus on solvent-borne coating resins for the global market.
The sale of DSM Synres is in line with DSM’s strategy for its Performance Materials cluster to improve performance via among other things upgrading its portfolio. In coating resins, DSM is focusing on sustainable technologies such as water-based, powder and UV-curing coatings for end markets including decorative paints, high-end flooring, industrial wood, graphic arts and numerous metal applications.
Standard Investment, based in Amsterdam, is a hands-on private equity firm focused on small and medium-sized enterprises in the Netherlands and Belgium. Since its establishment in 2004, the firm has acquired a portfolio of 18 companies.
Euroresins is a distributor of products to the composite resins industry, with activities in nine countries in Europe, including the UK, Italy and France. Euroresins has sales of approximately €90 million with nearly 70 employees. All employees will on the closing date transfer to the new owner.
The sale of Euroresins is in line with the strategic actions DSM is pursuing for Composite Resins, as announced in November 2014.
Cathay Investments is the UK holding company for a group of companies engaged in chemical distribution and trading. Cathay’s principal trading business is Cathay Composites, which distributes glass fiber, resins and other composite materials throughout the UK and Scandinavia. Since its establishment Cathay has grown its portfolio to six companies.
DSM Synres produces solvent-borne alkyd and acrylic coating resins at its site in Hoek van Holland (The Netherlands) for the global coatings, adhesives and graphic arts markets since 1947. DSM Synres realizes sales of approximately €50 million with nearly 80 employees. All employees will on the closing date transfer to the new owner. Under the new ownership, Synres will continue to focus on solvent-borne coating resins for the global market.
The sale of DSM Synres is in line with DSM’s strategy for its Performance Materials cluster to improve performance via among other things upgrading its portfolio. In coating resins, DSM is focusing on sustainable technologies such as water-based, powder and UV-curing coatings for end markets including decorative paints, high-end flooring, industrial wood, graphic arts and numerous metal applications.
Standard Investment, based in Amsterdam, is a hands-on private equity firm focused on small and medium-sized enterprises in the Netherlands and Belgium. Since its establishment in 2004, the firm has acquired a portfolio of 18 companies.
Euroresins is a distributor of products to the composite resins industry, with activities in nine countries in Europe, including the UK, Italy and France. Euroresins has sales of approximately €90 million with nearly 70 employees. All employees will on the closing date transfer to the new owner.
The sale of Euroresins is in line with the strategic actions DSM is pursuing for Composite Resins, as announced in November 2014.
Cathay Investments is the UK holding company for a group of companies engaged in chemical distribution and trading. Cathay’s principal trading business is Cathay Composites, which distributes glass fiber, resins and other composite materials throughout the UK and Scandinavia. Since its establishment Cathay has grown its portfolio to six companies.