DSM intends to acquire 51% of AGI Corporation (Taiwan)
AGI offers a broad range of environmentally friendly UV (ultraviolet) curable resins and other products. These products are used in coatings for paper, wood, plastic and graphic arts applications. AGI reported net sales in 2009 of NTD 3,561 million (approximately € 90 million). AGI is listed on the emerging companies board of the GreTai Securities Market in Taipei. This intended transaction is consistent with DSM's strategic focus on high growth economies, sustainability, innovation and partnerships.
The intended acquisition will be for a 51% stake for about € 48 million and will consist of a mix of newly to be issued shares and purchases from existing shareholders by way of a public tender offer, as further described below.
Dimitri de Vreeze, President of DSM Resins, commented: "The acquisition of 51% of AGI will allow DSM Resins to strengthen its UV technology platform. UV curing is environmentally friendly and the winning technology for the future. UV paint and ink systems have a low eco-footprint in combination with low total operational costs. Therefore the acquisition will enhance the innovative and sustainable character of our portfolio. This expansion in UV paint and ink system markets will allow DSM Resins to realize its ambition to become the global leader in sustainable and innovative resins, the key ingredients of paints and inks. We look forward to working with AGI and its shareholders, management and employees to make the combination a success for all."
Most read news
Organizations
Other news from the department business & finance
Get the chemical industry in your inbox
From now on, don't miss a thing: Our newsletter for the chemical industry, analytics, lab technology and process engineering brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.