Royal DSM N.V., the leading Life Sciences and Materials Sciences company from the Netherlands, today announces the acquisition of the US-based company Soluol, a developer, producer and marketer of high performance urethane resins which are used in a wide range of applications, with annual sales of USD 20 million. Both parties have agreed not to disclose financial details.
The acquisition of Soluol enhances DSM's specialty-resins presence in North America and adds new technology as well as a state-of-the-art production facility in Rhode Island. The acquired company will be grouped under the DSM NeoResins+ business unit, part of the DSM Resins business group.
Nico Gerardu, member of DSM's Managing Board and responsible for the Performance Materials cluster, gave the following comment: "DSM Resins is a strategically very important business in DSM's accelerated transformation into a leading Life Sciences and Materials Sciences company. The acquisition of Soluol and previously announced investments underline DSM's belief in the strong growth potential of the resins business and reinforces our geographic presence in the largest coating market in the world, the USA. Soluol's strong market position, outstanding product portfolio and sharp customer focus are all great fits for DSM NeoResins+."
Soluol is a leading supplier of a broad range of both water-based and solvent-based high-performance specialty polyurethane resins. Founded in 1931, their key markets include the paint and coatings sector where their products are used on concrete, metal, wood and plastic substrates. Additionally, Soluol produces a range of polyurethanes which offer unique bonding properties for use in the adhesives sector and other specialty products used in the conversion of foils, and also in paper, plastics, and blister packaging. Soluol also offers a range of fully formulated, ready-to-use polyurethane-based coatings designed to impart a wide variety of functional and tactile properties to fabrics.
Soluol has recently completed the construction of a manufacturing facility located in East Providence, RI where all of their products are now manufactured. All research and support activities are located at this location as well.
About DSM NeoResins+
DSM NeoResins+ is a global, customer-oriented leader in specialty resins operating from nine locations in five different countries with over 1,200 employees. Application driven, DSM NeoResins+ is geared to specific business segments and organized into four units linked to these business segments. The global responsibility of the four units ensures fast-decision making and short times to market. In line with DSM's corporate strategy, DSM NeoResins+ strives to be among the world's leading industries in the areas of safety, health and environmental management. One of the company's key priorities is to design resin systems with tomorrow's environmental requirements in mind, guided by our Product Stewardship principles. DSM NeoResins+ is part of the DSM Resins business group.
DSM creates innovative products and services in life sciences and materials sciences, contributing to the quality of life. DSM's products and services are used globally in a wide range of markets and applications, supporting a healthier, more sustainable and enjoyable way of living. End markets include human and animal nutrition and health, personal care, pharmaceuticals, automotive, coatings and paint, electrics & electronics, life protection and housing. The company strategy, Vision 2010 - Building on Strengths, focuses on accelerating profitable and innovative growth of the company's specialties portfolio. The key drivers of this strategy are market-driven growth and innovation, an increased presence in emerging economies and operational excellence. DSM has annual sales of almost EUR 9 billion and employs some 22,000 people worldwide. The company is headquartered in the Netherlands, with locations in Europe, Asia, the Americas, Africa and Australia. More information on DSM can be found at www.dsm.com.