DSM acquires American specialty
resins producer Soluol
DSM the Netherlands, announces the acquisition of the US based company
Soluol, a developer, producer and marketer of high performance urethane
resins.
Both parties, Royal DSM N.V., the leading Life Sciences and Materials
Sciences company and US-based company Soluol, with annual sales of USD
20 million, have agreed not to disclose the financial details.
Soluol is a leading supplier of a broad range of both water-based and
solvent-based high-performance specialty polyurethane resins. Founded
in 1931, their key markets include the paint and coatings sector where
their products are used on concrete, metal, wood and plastic substrates.
Additionally, Soluol produces a range of polyurethanes which offer unique
bonding properties for use in the adhesives sector and other specialty
products used in the conversion of foils, and also in paper, plastics,
and blister packaging. Soluol also offers a range of fully formulated,
ready-to-use polyurethane-based coatings designed to impart a wide variety
of functional and tactile properties to fabrics.
Soluol has recently completed the construction of a manufacturing facility
located in East Providence, RI where all of their products are now manufactured.
All research and support activities are located at this location as well.
The acquisition of Soluol enhances DSM's specialty resins presence in
North America and adds new technology as well as a state-of-the-art production
facility in Rhode Island. The acquired company will be grouped under the
DSM NeoResins+ business unit, part of the DSM Resins business group. DSM
NeoResins+ is a global, customer-oriented leader in specialty resins operating
from nine locations in five different countries.
Nico Gerardu, member of DSM's Managing Board and responsible for the Performance
Materials cluster, gave the following comment: "DSM Resins is a strategically
very important business in DSM's accelerated transformation into a leading
Life Sciences and Materials Sciences company. The acquisition of Soluol
and previously announced investments underline DSM's belief in the strong
growth potential of the resins business and reinforces our geographic
presence in the largest coating market in the world, the USA. Soluol's
strong market position, outstanding product portfolio and sharp customer
focus are all great fits for DSM NeoResins+."
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For more information concerning this press release contact DSM Corporate
Communications, Nelleke Barning, tel. +31 (0) 45 5782017.
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