A partnership between life sciences and materials company Royal DSM and leading investment advisory firm CVC has been completed.
The partnership will facilitate the formation of a new company Chemicalnvest B.V, which focuses on activities in polymer intermediates (caprolactam and acrylonitrile) and composite resins.
With all regulatory approvals now received the two companies have completed the partnership with Chemicalnvest part owned by both CVC, which owns a 65 per cent share and DSM, which owns 35 per cent. Around 1,900 have transferred to the company.
Science-based company DSM is set to use the partnership to further reduce the cyclicality of its portfolio, putting its attention fully on the nutrition, performance materials and innovation activities. Likewise it will protect a long term competitive supply position of caprolactam for DSM Engineering Plastics.
Operating as an independent company, Chemicalnvest has three business units which include caprolactam, acrylonitrile, and complete resins.
As part of the transaction DSM has given its global caprolactam business (Europe, North America, its 60 per cent stake in DNCC (China) and the caprolactam licensing business, acrylonitrile business and composite resins business including its 75 per cent stake in JDR. The company, who’s products are used in personal care products, has also transferred the 65 per cent in the service organisation Sitech Services.