DSM sells functional materials business to Covestro

Polymer producer Covestro has completed the acquisition of the resins and functional materials business of Dutch company Royal DSM. It announced its intention to acquire this part of DSM’s business in September; regulatory approval for the deal came through early in April.

Covestro said this would substantially expand its portfolio of coating resins and, thanks to the addition of product ranges such as DSM’s water-based polyacrylate resins, enhance its sustainability story, too.

Royal DSM said it expected to receive around €1.4 billion for its resins and functional materials business, which contributed more than €1 billion to its revenues for 2019.

SOURCE: sportstextiles.com