DSM completes sale of Resins & Functional Materials businesses

HEERLEN, Netherlands, April 1, 2021 /PRNewswire/ -- Royal DSM, a global science-based company in Nutrition, Health and Sustainable Living, today announces the completion of the sale of its Resins & Functional Materials and associated businesses (together, "RFM") to Covestro AG for an equity value of €1.6 billion. The proposed sale of RFM was first announced on 30 September 2020.

The transaction covers DSM's Resins & Functional Materials businesses, including DSM Niaga®, DSM Additive Manufacturing, and the coatings activities of DSM Advanced Solar. DSM anticipates a book profit on the transaction of around €540 million. DSM will receive approximately €1.4 billion net in cash.

DSM – Bright Science. Brighter Living.™
Royal DSM is a global, purpose-led, science-based company active in Nutrition, Health and Sustainable Living. DSM's purpose is to create brighter lives for all. DSM addresses with its products and solutions some of the world's biggest challenges while simultaneously creating economic, environmental and societal value for all its stakeholders – customers, employees, shareholders, and society at large. DSM delivers innovative solutions for human nutrition, animal nutrition, personal care and aroma, medical devices, green products and applications, and new mobility and connectivity. DSM and its associated companies delivers annual net sales of about €10 billion with approximately 23,000 employees. The company was founded in 1902 and is listed on Euronext Amsterdam. More information can be found at www.dsm.com.

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Forward-looking statements
This press release may contain forward-looking statements with respect to DSM's future (financial) performance and position. Such statements are based on current expectations, estimates and projections of DSM and information currently available to the company. DSM cautions readers that such statements involve certain risks and uncertainties that are difficult to predict and therefore it should be understood that many factors can cause actual performance and position to differ materially from these statements. DSM has no obligation to update the statements contained in this press release, unless required by law. The English language version of the press release is leading.

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SOURCE Royal DSM