03 September 2002 14:13 [Source: ICIS news]
LONDON (CNI)--Dutch chemicals, performance materials and life sciences group DSM said Tuesday it is seeking further acquisitions to bolster its performance materials division.
The admission came after it announced the Euro2.25bn ($2.2bn) purchase of Roche’s vitamins and fine chemicals division.
DSM said it would need to make further acquisitions to achieve its Vision 2005 strategy of concentrating on life sciences and performance materials and to achieve annual turnover of Euro10bn. Turnover last year was Euro7.97bn.
It indicated that acquisitions in the performance chemicals division are unlikely to match the scale of the Roche deal.
However, Credit Suisse First Boston's (CSFB) chemicals team said in a statement: "We expect that DSM will have to consider making another deal of approximately the same size at some point in the medium term."
Details of potential acquisition targets were not disclosed.
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