HEERLEN, NETHERLANDS--(Marketwire - Nov 12, 2012) - Royal DSM, the global Life Sciences
and Materials Sciences company, announced
today that it has reached an agreement with Borealis AG for the sale of
DEXPlastomers V.o.F, a 50/50 Joint Venture of DSM with an affiliate of
ExxonMobil Chemical. DSM will also sell its LldPE Compact Solution
Borealis. Subject to customary approvals and notifications, the transaction
expected to close in Q1 2013.
Established in 1996, DEXPlastomers is a 50/50 joint venture between DSM and
Exxon Chemical Holland Ventures B.V., producing C8 plastomers and linear
density polyethylene. DSM's LldPE Compact Solution Technology was
the 1960's to produce polyethylenes in a certain density range and is
instrumental to the operations of DEXPlastomers.
In 2012, DEXPlastomers anticipates sales of approximately EUR180 million.
Currently, 95 DSM employees are in the scope of the transaction.
For DSM, a sale of DEXPlastomers is in line with its long-term focus of
Life Sciences and Materials Sciences company, active in health, nutrition
materials. DSM's 50% participation in DEXPlastomers is reported under
Activities in DSM's accounts.
DSM - Bright Science. Brighter Living.™
Royal DSM is a global science-based company active in health, nutrition and
materials. By connecting its unique competences in Life Sciences and
Sciences DSM is driving economic prosperity, environmental progress and
advances to create sustainable value for all stakeholders. DSM delivers
innovative solutions that nourish, protect and improve performance in
markets such as food and dietary supplements, personal care, feed,
pharmaceuticals, medical devices, automotive, paints, electrical and
electronics, life protection, alternative energy and bio-based materials.
22,000 employees deliver annual net sales of around EUR9 billion. The
listed on NYSE Euronext. More information can be found at www.dsm.com.
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Source: DSM N.V. via Thomson Reuters ONE