Dutch Chemicals Group DSM NV to Buy Avecia's Coating Resins Operation
The deal to acquire NeoResins, on a cash and debt-free basis, is intended to boost DSM's coating resins business as part of DSM's overhaul of its operations, which has included jobs cuts in some areas and acquisitions elsewhere.
"The acquisition fits perfectly in DSM's strategy and means a substantial strengthening of DSM's coating resins business," DSM said. "The business group will develop synergies over the coming period," DSM said.
Chief Financial Officer Henk van Dalen said that it was too early to say if the acquisition would result in job cuts and that DSM's first priority was to focus on completing the acquisition and then integrating the new company.