DSM, the Dutch life sciences and materials sciences company, and CVC Capital Partners (CVC), one of the world's leading investment advisory firms, have formally named the company which will take over DSM's activities in polymer intermediates (caprolactam and acrylonitrile) and composite resins as ChemicaInvest BV. As announced on March 16, 2015, CVC will have 65% stake in ChemicaInvest BV, while DSM will own the remain stake.
With all regulatory approvals now received, DSM and CVC have completed the transaction effective as per 31 July 2015. All approximately 1,900 employees have transferred to ChemicaInvest.
DSM contributed its global caprolactam business (Europe, North America, its 60% stake in China-based DNCC and the caprolactam licensing business), acrylonitrile business and composite resins business including its 75 percent stake in JDR (China). DSM's 65% stake in the service organisation Sitech Services held via its caprolactam and acrylonitrile businesses was also transferred. ChemicaInvest will operate as an independent company with three business units: caprolactam, acrylonitrile and composite resins.
With all regulatory approvals now received, DSM and CVC have completed the transaction effective as per 31 July 2015. All approximately 1,900 employees have transferred to ChemicaInvest.
DSM contributed its global caprolactam business (Europe, North America, its 60% stake in China-based DNCC and the caprolactam licensing business), acrylonitrile business and composite resins business including its 75 percent stake in JDR (China). DSM's 65% stake in the service organisation Sitech Services held via its caprolactam and acrylonitrile businesses was also transferred. ChemicaInvest will operate as an independent company with three business units: caprolactam, acrylonitrile and composite resins.
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