DSM to Sell Participation in DEXPlastomers JV to Borealis
Heerlen, NL, - - Royal DSM, the global Life Sciences and Materials Sciences company, announced today that it has reached an agreement with Borealis AG for the sale of DEXPlastomers V.o.F, a 50/50 Joint Venture of DSM with an affiliate of ExxonMobil Chemical. DSM will also sell its LldPE Compact Solution Technology to Borealis. Subject to customary approvals and notifications, the transaction is expected to close in Q1 2013.
Established in 1996, DEXPlastomers is a 50/50 joint venture between DSM and Exxon Chemical Holland Ventures B.V., producing C8 plastomers and linear low density polyethylene. DSMís LldPE Compact Solution Technology was developed in the 1960ís to produce polyethylenes in a certain density range and is instrumental to the operations of DEXPlastomers.
In 2012, DEXPlastomers anticipates sales of approximately Ä180 million. Currently, 95 DSM employees are in the scope of the transaction.
For DSM, a sale of DEXPlastomers is in line with its long-term focus of being a Life Sciences and Materials Sciences company, active in health, nutrition and materials. DSMís 50% participation in DEXPlastomers is reported under Corporate Activities in DSMís accounts.
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