September 20, 2006 02:29 ET

DSM sells pharmaceutical production site in Michigan (USA) to Albemarle

HEERLEN, NETHERLANDS -- (MARKET WIRE) -- September 20, 2006 --

DSM Pharmaceutical Products, a Business Group of Royal DSM NV, has signed an agreement with Albemarle Corporation of Baton Rouge (Louisiana-USA) regarding the sale of the assets and business associated with DSM's pharmaceutical production site in South Haven (Michigan - USA). Terms of the deal, which is targeted for closing September 30, 2006, have not been disclosed. This transaction will for DSM lead to a small book profit.

In December of last year DSM decided on exit by closure or divestment of the South Haven site, which is focused on the production of generic active pharmaceutical ingredients. The divestiture of the South Haven site is an integral part of DSM Pharmaceutical Products' asset base restructuring, as mentioned in DSM's Vision 2010.

"We are very pleased that through the transaction with Albemarle we have been able to secure the future of the site and to safeguard the employment of more than 100 of our people in South Haven", says Leendert Staal, President of DSM Pharmaceutical Products.


DSM is active worldwide in nutritional and pharma ingredients, performance materials and industrial chemicals. The company creates innovative products and services that help improve the quality of life. DSM's products are used in a wide range of end markets and applications such as human and animal nutrition and health, cosmetics, pharmaceuticals, automotive and transport, coatings, housing and electrics & electronics (E&E). DSM's strategy, named Vision 2010 - Building on Strengths (, focuses on accelerating profitable and innovative growth of the company's specialties portfolio. Market-driven growth, innovation and increased presence in emerging economies are key drivers of this strategy. The group has annual sales of over EUR 8 billion and employs some 22,000 people worldwide. DSM ranks among the global leaders in many of its fields. The company is headquartered in the Netherlands, with locations ( in Europe, Asia, Africa and the Americas. More information about DSM can be found at

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