26 September 2013 17:10 [Source: ICIS news]
LONDON (ICIS)--DSM is planning to streamline its Materials Sciences business to achieve annual savings of €110-120m ($149m-162m) per year from 2015, the Dutch specialty chemicals producer said on Thursday.
The cost-cutting would be achieved through cost reductions for its engineering, resins and Dyneema operations.
DSM said that it is also looking to improve efficiency and margins for plastics, innovation speed and margin management for resins, and focus on key market segments and new business for Dyneema, as well as pursue possible restructuring for the division.
DSM Dyneema specialises in high-strength fibre production. Speaking to ICIS earlier this month, Dyneema CEO Gerard de Reuver said that it is exploring emerging market opportunities and lightweight applications for the deep-sea offshore drilling sector, to offset a slump in demand for defence products such as body and vehicle armour.
The Materials Sciences division comprises its performance materials and polymer intermediates operations.
($1 = €0.74)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections