Royal DSM today announces that it has completed the sale of DSM Elastomers to LANXESS for € 310 million on a cash and debt-free basis. After all regulatory approvals were received DSM and LANXESS completed the transaction effective as per 1 May 2011. The transaction, which was announced on 14 December 2010, will result in a book profit of more than € 100 million for DSM in Q2 2011.
DSM Elastomers produces the synthetic rubber ethylene-propylene-diene monomer (EPDM) under the brand name Keltan® and is based in Sittard-Geleen, The Netherlands, has roughly 420 employees worldwide and will become part of the Technical Rubber Products business unit of LANXESS. Employees have transferred to the new owner. LANXESS plans to transfer the headquarters for the combined EPDM business from Marl, Germany, to Sittard-Geleen.
- DSM NV, Heerlen, The Netherlands