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DSM to divest amino resins business to Ineos

05-09-2011: Royal DSM N.V. and INEOS Melamines, a subsidiary of Switzerland-based INEOS Industries announce that they have reached an agreement for DSM to sell its amino resins business to INEOS. The effective date of the transaction is 1 September 2011. Financial details will not be disclosed.

For DSM the divestment is a logical step after it closed at the end of 2009 its production facility in the Netherlands. Ever since a supply agreement with INEOS Melamines for manufacturing melamine and benzoguanamine amino resins has been in place. As of 1 September 2011, INEOS will market these amino resins directly.

The divestment and transfer of marketing activities will have minimal to no impact on DSM’s customers as the products will continue to be made according to the same process with the same specifications and in the same production facilities. During a transition period the sales forces of INEOS and DSM will cooperate closely to ensure a smooth transfer of all customer relations. For a limited period of time INEOS is allowed to use the DSM brand name Uramex® for the amino products involved.

Holger Mueller, Commercial Director of INEOS Melamines commented: “The acquisition of the amino resins from DSM is a further step in our efforts to be the supplier of choice for amino cross linkers. It will help to utilize our assets and is a consistent step after we started to produce the resins for DSM almost 2 years ago.”

Patrick Niels, Business Unit director of DSM Coating Resins said: “Amino resins are mostly used for solvent-based applications, whereas DSM has decided to focus its activities on coating resins with a lower ecological-footprint (such as waterborne, powder and UV technologies). “The divestment of the amino resins to INEOS is a further step in our strategy to further focus on innovative and sustainable resins .This increased focus will allow us to serve our customers better in ensuring an ever increasing use for sustainable coating technologies.”

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