Jun 01-DSM Engineering Plastics, a unit of Dutch life sciences company Royal DSM (AMS:DSM), said Tuesday it has finalised the acquisition of the Novamid polyamide business of Japan-based Mitsubishi Chemical Corp (MCC) in exchange for its Xantar polycarbonate business.
The move is a "strategic fit" for both companies. With the acquisition, DSM Engineering Plastics will strengthen its presence in Japan, the company said in a statement.
The swap agreement was inked in February. No financial details have been disclosed.
Each of the businesses has annual net sales of EUR90m (USD111m).
DSM Engineering Plastics supplies quality engineering thermoplastics.
Country: ; Netherlands; Japan
Sector: Chemicals
Target: Xantar polycarbonate business; Novamid polyamide business
Buyer: Mitsubishi Chemical Corporation; DSM Engineering Plastics
Vendor: DSM Engineering Plastics; Mitsubishi Chemical Corporation
Type: Divestment; Corporate acquisition
Status: Closed
The move is a "strategic fit" for both companies. With the acquisition, DSM Engineering Plastics will strengthen its presence in Japan, the company said in a statement.
The swap agreement was inked in February. No financial details have been disclosed.
Each of the businesses has annual net sales of EUR90m (USD111m).
DSM Engineering Plastics supplies quality engineering thermoplastics.
Country: ; Netherlands; Japan
Sector: Chemicals
Target: Xantar polycarbonate business; Novamid polyamide business
Buyer: Mitsubishi Chemical Corporation; DSM Engineering Plastics
Vendor: DSM Engineering Plastics; Mitsubishi Chemical Corporation
Type: Divestment; Corporate acquisition
Status: Closed
