This website requires certain cookies to work and uses other cookies to help you have the best experience. By visiting this website, certain cookies have already been set, which you may delete and block. By closing this message or continuing to use our site, you agree to the use of cookies. Visit our updated privacy and cookie policy to learn more.
This Website Uses Cookies By closing this message or continuing to use our site, you agree to our cookie policy. Learn MoreThis website requires certain cookies to work and uses other cookies to help you have the best experience. By visiting this website, certain cookies have already been set, which you may delete and block. By closing this message or continuing to use our site, you agree to the use of cookies. Visit our updated privacy and cookie policy to learn more.
AMSTERDAM - DSM N.V. of The Netherlands announced the sale of its petrochemical business to Saudi Arabian conglomerate Sabic for 2.25 billion euros, or $1.98 billion U.S. Sabic is reported to be the largest petrochemical company in the Middle East, and the deal reportedly will move Sabic to third place worldwide in polyethylene sales and to number four in polypropylene.
DSM executives said proceeds from the sale would be used for acquisitions, but declined to elaborate.
DSM has indicated it plans to focus on biotechnology and performance materials as part of a strategy to emphasize specialty chemicals. DSM's product portfolio includes polyester resins for powder, can and coil coatings and resins for architectural and industrial maintenance coatings.
I want to hear from you. Tell me how we can improve.