DSM plans to acquire US-based Polymer Technology

28 April 2008 08:52  [Source: ICIS news]

MUMBAI (ICIS news)--DSM plans to acquire the US-based Polymer Technology Group (PTG) in order to expand its biomedical polymers business as part of the company’s growth strategy, the Netherlands-based life and material sciences firm said on Monday.

“Through the acquisition of PTG, DSM Biomedical gains a leading global position in the fast growing biomedical materials market. Our collective technology in combination with our expanded geographical and customer base will help us to develop a unique portfolio of products for the medical device industry," said Steve Hartig, president of DSM Biomedical.

The acquisition, which was subject to regulatory approval, was expected to close by the second quarter of 2008 for an undisclosed sum, the company added.

“With already an established presence and a broad portfolio of products and services for the healthcare industry, DSM aims to establish over €100m [$156.2m] in sales by 2012 in the biomedical materials market of which PTG will contribute a significant part,” it added.

The company said that it expected PTG to realise about $40m in net sales for 2008, with an above average operating profits margin.

($1 = €0.64)

By: Isha Jha
+65 6780 4359

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