DSM to sell Citrique Belge to Adcuram
(Thomson Reuters ONE) -
Royal DSM N.V., the global Life Sciences and Materials Sciences company
headquartered in the Netherlands, today announces that it has reached an
agreement regarding the sale of Citrique Belge to Adcuram. The intended sale is
expected to close in Q4 2010, subject to regulatory and other customary
approvals and notifications.
The intended sale of Citrique Belge is a result of DSM's ambitions to focus on
Life Sciences and Materials Sciences. As announced in September 2007, DSM's
citric acid interests do not fit with this focus. After the closure of DSM's
citric acid manufacturing plant in Wuxi (China) in Q1 2009, DSM's citric acid
business consisted only of the Citrique Belge operations, located in Tienen
(Belgium).
Both parties have agreed not to disclose financial details at this time. Net
sales of Citrique Belge in 2009 were above ? 100 million. DSM expects to report
a book loss of around ? 40 million as a result of the transaction, albeit the
transaction represents a very reasonable multiple on profits made by the unit.
Approximately 250 employees will transfer to the new owner upon closing.
Stephan Tanda, Member of the DSM Managing Board and responsible for Citrique
Belge, commented: "The sale of Citrique Belge is yet another step forward for
DSM in its ongoing transformation towards a Life Sciences and Materials Sciences
company. With the intended sale to Adcuram, a privately owned group with a
long-term approach, I have every confidence in a good future for the company
under new ownership. I would like to thank all Citrique Belge employees for
their ongoing support and substantial contribution to DSM."
Thomas Probst, Member of the Adcuram Board commented: "With the acquisition of
Citrique Belge, we follow our strategy to invest in leading chemical businesses.
Also, it shows our commitment to invest outside Germany. We will invest heavily
in Citrique Belge to grow the business and to further improve its leading
position in the industry. We are proud that DSM chose Adcuram as the best new
owner of this reputable company." After transactions with Bayer and Dow, this
is Adcuram´s third acquisition from a leading international chemical group.
Citrique Belge is one of the major producers of citric acid world-wide. The
product is used as a pH regulator and flavor enhancer in soft drinks, fruit
juices, sweets, jams and jellies. It is also used as a binding agent in
biodegradable detergents and in other applications such as antioxidant. Citrique
Belge has been producing citric acid since 1929.
Adcuram
Adcuram is an international, privately owned industrial holding. Adcuram
acquires non-core businesses of large conglomerates and actively develops them
with a long-term, entrepreneurial perspective. The chemicals sector is one of
Adcuram's investment priorities. Currently, Adcuram companies - acquired from
international groups such as Bayer, Dow Chemical and Schott - account for ~ ?
500 million in sales and employ more than 3,000 employees world-wide.
Acquisitions are supported by the group's financial strength and the financial
commitments of its private owners.
DSM - the Life Sciences and Materials Sciences Company
Royal DSM N.V. creates solutions that nourish, protect and improve performance.
Its end markets include human and animal nutrition and health, personal care,
pharmaceuticals, automotive, coatings and paint, electrical and electronics,
life protection and housing. DSM manages its business with a focus on the triple
bottom line of economic performance, environmental quality and social
responsibility, which it pursues simultaneously and in parallel. DSM has annual
net sales of about ?8 billion and employs some 22,700 people worldwide. The
company is headquartered in the Netherlands, withlocations on five continents.
DSM is listed on Euronext Amsterdam. More information: www.dsm.com
For more information:
DSM Corporate Communications DSM Investor Relations
Herman Betten Hans Vossen
tel. +31 (0) 45 5782017 tel. +31 (0) 45 5782864
fax +31 (0) 45 5740680 fax +31 (0) 10 4590275
e-mailmedia.relations(at)dsm.com e-mailinvestor.relations(at)dsm.com
[HUG#1446230]
Press release-pdf:
http://hugin.info/130663/R/1446230/389225.pdf
Press release-pdf:
http://hugin.info/130663/R/1446230/389223.pdf
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other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: DSM N.V. via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 22.09.2010 - 23:15 Uhr
Sprache: Deutsch
News-ID 42944
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