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 ?xml:namespace>
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
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