DSM sells resins arm to Germany’s Covstro as move to nutrition and health continues

Heerlen-based specialty chemicals group DSM is selling its resins and functional materials arm to German polymer maker Covstro AG in a deal worth €1.6bn. The divestment is the latest transaction in the company’s 10-year drive to focus on nutrition and health, rather than bulk chemicals, and follows the recent acquisitions of the Erber Group, Glycom, and CSK. ‘This sale builds on our approach of actively managing our businesses, as DSM continues to evolve as a purpose-led, science-based company operating in the fields of nutrition, health and sustainable living,’ the company’s joint chief executives Geraldine Matchett and Dimitri de Vreeze said in a statement. ‘The deal delivers strong value to DSM and is strategically attractive for all parties’.