ZWOLLE, the Netherlands - Royal DSM N.V. and INEOS Melamines, a subsidiary of Switzerland-based INEOS Industries, have reached an agreement for DSM to sell its amino resins business to INEOS. The effective date of the transaction was September 1, 2011.
For DSM, the divestment is a logical step after it closed its production facility in the Netherlands at the end of 2009. Ever since, a supply agreement with INEOS Melamines for manufacturing melamine and benzoguanamine amino resins has been in place. As of September 1, 2011, INEOS will market these amino resins directly.
INEOS Melamines is one of the leading global producers of amino resins. The acquisition will further strengthen its position and ability to serve customers globally.
The divestment and transfer of marketing activities will have minimal to no impact on DSM’s customers, as the products will continue to be made according to the same process with the same specifications and in the same production facilities. During a transition period, the sales forces of INEOS and DSM will cooperate closely to ensure a smooth transfer of all customer relations. For a limited period of time, INEOS is allowed to use the DSM brand name Uramex® for the amino products involved.
Holger Mueller, Commercial Director of INEOS Melamines, commented, “The acquisition of the amino resins from DSM is a further step in our efforts to be the supplier of choice for amino crosslinkers. It will help to utilize our assets and is a consistent step after we started to produce the resins for DSM almost two years ago.”
DSM to Divest Amino Resins Business
September 8, 2011