Royal DSM N.V. has announced that it has reached an agreement regarding the sale of the remaining part of DSM Elastomers (DSM Elastomers) to LANXESS for € 310 million on a cash and debt-free basis. The intended sale is expected to close in the first months of 2011, subject to regulatory and other customary approvals and notifications.
DSM Elastomers produces a range of synthetic rubber polymers such as the ethylene propylene diene monomer or EP(D)M, under the brand name Keltan®. Production plants for Keltan are based in Sittard-Geleen, Netherlands, and Triunfo, Brazil. Approximately 420 employees will transfer to the new owner upon closing.
This announcement represents the final stage of DSM’s plan to focus on Life Sciences and Materials Sciences: The divestment program, Accelerated Vision 2010, began in September 2007. Previously, DSM finalized the divestments of DSM Agro, DSM Melamine, Citric Acid, Stamicarbon as well as its energy interests. Total divestment proceeds – including the proceeds from the intended sale of DSM Elastomers – are expected to be about € 1.2 billion.