DSM Concludes Acquisition of Outstanding Shares in DSM-AGI
AMSTERDAM - Royal DSM has concluded the acquisition of the outstanding 49% of shares in its DSM-AGI joint venture, gaining sole ownership of the Taiwan-based supplier of UV-curable resins and other specialty chemicals.
DSM issued a public tender offer to purchase the remaining shares of DSM-AGI Corp. via one of its affiliates on March 3, 2017. This process has now been completed, and the company has been delisted from the Taipei stock exchange.
DSM originally acquired a 51% stake in DSM-AGI in July 2011 to strengthen the UV-curing technology platform for DSM Resins & Functional Materials. Making DSM-AGI a wholly-owned subsidiary will allow DSM to more effectively integrate DSM-AGI’s operations and management within its own global organization. Fully leveraging DSM’s operational expertise and research and development capabilities is expected to enhance DSM-AGI’s global competitiveness and allow it to better respond to current and future developments in its industry.
Patrick Niels, President of DSM Resins & Functional Materials, commented, “UV-curing coating systems are among the most sustainable coating technologies on the market. The acquisition of the outstanding shares underlines DSM’s commitment to create a leading position in UV resins, alongside its leading global position in powder coating and waterborne resins. UV resins are in high demand for use in high-performance, low-eco-footprint and high-efficiency coating applications as well as for specialty applications such as for use in fiber optic coatings. Driving the transition to more sustainable technologies from our leading global market positions has been and will remain a clear growth driver for DSM and a clear value driver for our industry partners.”