The materials business posted sales in 2020 of $1.9 billion—close to 20% of DSM’s total sales—from products that include specialty nylons, biomaterials, and Dyneema super-strong ultra-high molecular weight polyethylene fiber. DSM says it doesn’t yet have a buyer for the business. In the meantime, it is carving out the business, featuring 2,857 of DSM’s 23,127 employees, into a stand-alone company. “This is not something that is only going to take a few weeks or a couple of months, but neither do we want it to take years and years,” co-CEO Geraldine Matchett said in a conference call to analysts probing for details about a prospective sale of the business. DSM is also splitting its nutrition business into three divisions: food and beverage, health and nutrition, and animal nutrition.
by Alex Scott |
September 15, 2021