HEERLEN, The Netherlands - Royal DSM has reached an agreement with Standard Investment for the sale of DSM Synres. Subject to customary approvals and notifications, the transaction is expected to close in the first quarter of 2015. Financial details were not disclosed.
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. The company has sales of approximately €50 million with around 80 employees. 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 segment. 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.