Heerlen, the Netherlands-Royal DSM NV completed its acquisition of NeoResins, the coating resins business of Avecia, on 1 Feb, following approval from the relevant authorities. “The acquisition fits perfectly in DSM’s strategy and means a substantial strengthening of DSM’s coating resins business, part of the company’s Performance Materials cluster,” the firm’s statement said. NeoResin had sales in 2004 of around Euro 270 million and EBITDA of some Euro 52 million. The company employs 635 people. NeoResins-which makes polyurethane and acrylic resins with a focus on waterborne materials-will form part of the DSM Coating Resins Business Group and will be trading, within DSM, as DSM NeoResins. “
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