European Business
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS
No Result
View All Result
European Business
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS
No Result
View All Result
European Business
No Result
View All Result
Home < INDUSTRIES Chemical

DSM announces sale of Protective Materials business

by Marie Weil
April 21, 2022
A A
Share on LinkedinShare on Twitter

Royal DSM, a global purpose-led science-based company, today announces that it has reached an agreement to sell its Protective Materials business to Avient Corporation for an Enterprise Value of €1.44 billion.

The proposed transaction includes all of DSM’s Protective Materials activities, chiefly consisting of Dyneema®, the world’s strongest fiber, and follows DSM’s announcement that it was reviewing strategic options in September 2021. The business represented €335 million of DSM’s total annual net sales and €105 million of DSM’s total EBITDA for 2021. DSM expects to receive €1.33 billion net in cash following closing, after transaction costs and capital gains tax.

The transaction will create a business with considerable growth synergies that will benefit customers as well as employees of DSM Protective Materials as Avient helps the business deliver on its outstanding potential. Completion of the transaction, which is subject to the customary conditions and approvals, is expected in H2, 2022.

Geraldine Matchett and Dimitri de Vreeze, Co-CEOs of Royal DSM, commented: “Dyneema®’s discovery by DSM scientists in the 1960s has resulted in a great business and a brand that is leading the development of ultra-strong bio-based and circular materials. This agreement is a testimony to the contribution of employees worldwide over the decades. The transaction is strategically attractive for all parties and in line with our accelerated journey towards becoming a focused Health, Nutrition & Bioscience company. We know Avient will be a good owner of this business, for the colleagues working there and for the benefit of customers around the world.”

Robert M. Patterson, Chairman, President and Chief Executive Officer, Avient Corporation, commented: “We are very pleased to have reached agreement to acquire DSM Protective Materials and lead this exceptional business into the future. We are eager to continue investing in innovation and sustainable solutions, further accelerating the remarkable impact and possibilities of the business and Dyneema® brand. To the DSM Protective Materials employees, we look forward to you joining our team, which is proudly a certified Great Place to Work®.”

DSM will provide re-stated figures for its Materials cluster at its Q1 results in May 2022.

Tags: < Market

Related Industries

Chemical

Decarbonization and reduction of energy consumption: Air Liquide to implement an innovative solution for Verallia

March 17, 2023
Chemical

Dominik Risse takes over as head of LANXESS Urethane Systems Business Unit

February 25, 2023
Chemical

BASF and Tenova Advanced Technologies enter into a joint development agreement for efficient recycling of lithium-ion batteries

February 23, 2023
Chemical

UPM Biochemicals and HAERTOL Chemie GmbH announce strategic partnership to develop new sustainable coolants

February 10, 2023
Chemical

Bill Anderson to become CEO of Bayer AG

February 9, 2023
Chemical

MIDO Eyewear show: Arkema to showcase its innovations in Advances bio-circular materials

January 31, 2023

Voith and Essity develop groundbreaking concept for sustainable paper production

March 24, 2023

...

PowerCo and Umicore get official “go” to start joint venture for EU battery materials production

March 24, 2023

...

Dominik Risse takes over as head of LANXESS Urethane Systems Business Unit

February 25, 2023

...

A new dawn for the magnificent Grand Dame of La Croisette as Carlton Cannes, A Regent Hotel is poised to return

March 11, 2023

...

Valeo receives an Innovation award for EverguardTM, the next generation wiper blade

March 24, 2023

...

Carrier Makes Donation to the European Food Banks Federation to Help Reduce Food Insecurity in Europe

March 8, 2023

...

OPPO Pledges Carbon Neutrality Across its Operations by 2050 at MWC 2023

March 2, 2023

...

Interview with Vincent Graziani, CEO, IDEX Biometrics

March 2, 2023

...

Efficient and high-performing vehicle architecture: Cooperation of Continental and Infineon

March 14, 2023

...

ABB invests in Direct Current microgrid start-up Direct Energy Partners to accelerate energy transformation

March 9, 2023

...

Asia Pacific Business Asia Pacific Business Asia Pacific Business

EUROPEAN BUSINESS is a premier source of corporate news, business information and insights across broad spectrum of industries in Europe and worldwide.  We are one of the members of the Business World Network.

RESOURCES

  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS

CONTACT US

EDITORIAL:     editor # european-biz.com

PARTNERSHIP:     partnership # european-biz.com

HUMAN RESOURCE:     hr # european-biz.com

* (replace # with @)

  • Official Site

Copyright © EUROPEAN-BIZ.COM All rights reserved.

No Result
View All Result
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS

Copyright © EUROPEAN-BIZ.COM All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist