Royal DSM, the Life Sciences and Materials Sciences company, and CVC Capital Partners (CVC), one of the world's leading investment advisory firms, have announced that the partnership for DSM's activities in Polymer Intermediates (Caprolactam and Acrylonitrile) and Composite Resins through the formation of a new company, ChemicaInvest B.V., has been finalised.
The partnership was announced on 16 March, 2015. With all regulatory approvals received, DSM and CVC have completed the transaction effective as per 31 July 2015. Approximately all of the 1,900 employees have transferred to ChemicaInvest, which is 65 per cent owned by CVC and 35 per cent by DSM.Royal DSM, the Life Sciences and Materials Sciences company, and CVC Capital Partners (CVC), one of the world's leading investment advisory firms, #
DSM contributed its global caprolactam business (Europe, North America, its 60 per cent stake in DNCC (China) and the caprolactam licensing business), acrylonitrile business and composite resins business including its 75 per cent stake in JDR (China). DSM's 65 per cent stake in the service organization Sitech Services held via its caprolactam and acrylonitrile businesses was also transferred. ChemicaInvest operates as an independent company with three business units: caprolactam, acrylonitrile, and composite resins, according to a press release. (GK)
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