DSM and Mitsubishi Chemical plan to exchange engin

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DSM and Mitsubishi Chemical plan to exchange engineering plastics business

Royal DSM group of the Netherlands and Mitsubishi Chemical Co., Ltd. recently announced that the two sides have jointly signed a memorandum of understanding that DSM will acquire the polyamide business of Mitsubishi Chemical in exchange for the polycarbonate business of the former. Once the transaction is completed, DSM, as one of the two largest manufacturers of Polyamide Engineering Plastics in the world, will further consolidate its leading position

the annual net sales of these two businesses are about 90million euros, but neither party will disclose other financial details for the time being

after the completion of business exchange, DSM engineering plastics' competitive strength will be greatly improved, and its service and innovation capabilities in the automotive industry, electrical market and flexible packaging market will be strengthened not only in Europe and the United States, but also in Asia, especially in Japan and China

in view of the current difficult economic conditions, Mitsubishi Chemical is adjusting its petrochemical business and focusing on its core business. With the wide application of automotive, it and electronic products and the expansion of potential markets, polycarbonate has become the core business of Mitsubishi Chemical. DSM polycarbonate business unit is mainly oriented to the European market, and Mitsubishi Chemical will strengthen its global position in the field of polycarbonate hand-held mobile limit rod ester through this exchange. The idea of the agreement is that DSM engineering plastics will produce modified polycarbonate for Mitsubishi Chemical in Henk, Belgium, and in return, Mitsubishi Chemical will produce modified polyamide for DSM in heizaki Japan through its joint venture mepcom in Kyushu with a talent cost of nearly 3 (4) times

Nico gerardu, a member of DSM's board of directors who is mainly responsible for functional materials business, said: "this business exchange behavior is a win-win for the two companies. It enables us to further consolidate our position as a world leading polyamide manufacturer, and at the same time, we can occupy a solid foothold in a very important engineering plastic market such as Japan."

roelof Westerbeek, President of DSM engineering plastics, said that the exchange would strengthen DSM's position in the field of polyamide 6, expand its product portfolio, and cover the withdrawal of polyamide 6 from coal production capacity by 500 million tons in three to five years, while reducing and restructuring by 500 million tons/66

this business swap is another major move of DSM engineering plastics in the Asian market. DSM opened its first polyamide 6 polymerization plant in China last year, and a new facility for the production of engineering plastic composites was built in India earlier this year. 20 years ago, DSM Engineering Plastics Co., Ltd. successfully entered the Japanese market with high heat-resistant polyamide ranking first in the world. The relevant person in charge of DSM disclosed that the polyamide business of Mitsubishi Chemical will be merged into DSM Engineering Plastics Co., Ltd

it is reported that the transaction is still pending various external approvals and will be submitted to the labor and capital joint committee according to the process, which is expected to be completed by the end of this year

DSM Engineering Plastics Department is one of the subordinate business groups in the field of performance materials of Royal DSM group in the Netherlands, with sales of 761million euros in 2008

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