Dutch Chemicals Group DSM NV to Buy Avecia's Coating Resins Operation
AMSTERDAM, Netherlands - Dutch chemicals group DSM NV, Amsterdam, will buy U.K.-based specialty chemicals company Avecia's coating resins operation for 515 million euros ($684 million) as it focuses on high-growth activities.
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.