DSM completes takeover of Mitsubishi’s polyamide business
01 June 2010 07:54 [Source: ICIS news]
SINGAPORE (ICIS news)--DSM Engineering Plastics has completed its takeover of Japan's Mitsubishi Chemical Corporation's (MCC) polyamide business, the Dutch producer said in a statement on Tuesday.
The acquisition was part of an agreement, which enabled DSM to acquire MCC’s polyamide business in exchange for its polycarbonate business, the statement added.
“Both businesses have an annual net sales level of approximately €90m ($111m) each. The parties have agreed not to disclose other financial details,” DSM said.
The deal would also enable DSM to “expand its position in ?xml:namespace>Japan”, the company said.
A number of key employees of DSM's polycarbonate business were transferred to MCC as part of the deal, it added.
($1 = €0.81)
For more on polyamide, polycarbonate visit ICIS chemical intelligenceBy: Nurluqman Suratman
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