Covestro Completes Acquisition of DSM's Resins & Functional Materials Business
LEVERKUSEN, Germany — Covestro announced that it has successfully completed the acquisition of the Resins & Functional Materials business (RFM) from the Dutch company Royal DSM. The transaction received regulatory approval after Covestro and DSM signed an acquisition agreement in late September 2020. The transaction expands Covestro's portfolio of sustainable coating resins, reportedly making the group one of the world's leading providers in this growth market. The integration of RFM will expand the group's revenues by around €1 billion and will add more than 20 sites to its global production network.
"The acquisition of RFM significantly contributes to the implementation of our new Group strategy. With this transaction, we are taking another important step towards sustainability, while at the same time generating sustainable growth," said Dr. Markus Steilemann, CEO of Covestro. "We are looking forward to meeting our new colleagues and warmly welcoming them to Covestro."