DSM completes sale of DSM Elastomers to LANXESS
Royal DSM, the global Life Sciences and Materials Sciences company, today announces that it has completed the sale of DSM Elastomers to LANXESS for € 310 million on a cash and debt-free basis.
- (1888PressRelease) May 04, 2011 - This completes the final stage of the transformation of DSM that began with the divestment program DSM announced in September 2007 as part of its Accelerated Vision 2010 program.
After all regulatory approvals were received DSM and LANXESS completed the transaction effective as per 1 May 2011. The transaction, which was announced on 14 December 2010, will result in a book profit of more than € 100 million for DSM in Q2 2011.
DSM Elastomers produces the synthetic rubber ethylene-propylene-diene monomer (EPDM) under the brand name Keltan®. DSM Elastomers, based in Sittard-Geleen in the Netherlands, has roughly 420 employees worldwide and will become part of the Technical Rubber Products business unit of LANXESS. Employees have transferred to the new owner. LANXESS plans to transfer the headquarters for the combined EPDM business from Marl (Germany) to Sittard-Geleen.
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