Dutch DSM sells amino resins business to INEOS in strategy shift

01 September 2011 17:20  [Source: ICIS news]

LONDON (ICIS)--DSM has agreed to sell its amino resins business to INEOS for an undisclosed sum as part of its strategy to shift away from solvent-based applications, the Netherlands-based specialty chemicals company said on Thursday.

The business was acquired by INEOS Melamines, a subsidiary of Switzerland-headquartered INEOS.

Patrick Niels, director of DSM Coating Resins, said: “Amino resins are mostly used for solvent-based applications, whereas DSM has decided to focus its activities on coating resins with a lower ecological-footprint.”

The divestment is another step in DSM’s strategy to further focus on innovative and sustainable resins, Niels added.

DSM closed its production facility in the Netherlands at the end of 2009. Since then a supply agreement has been in place with INEOS Melamines for manufacturing melamine and benzoguanamine amino resins.

INEOS will now market these amino resins directly, DSM said in its statement.

Holger Mueller, INEOS Melamines commercial director, said: “The acquisition of the amino resins from DSM is a further step in our efforts to be the supplier of choice for amino cross linkers.

“It will help to utilise our assets and is a consistent step after we started to produce the resins for DSM almost two years ago.”

For more on INEOS and DSM visit ICIS company intelligence

By: Graeme Paterson
+44 20 8652 3214

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