BRAND-NEW
Covestro Completes Acquisition of Resins & Functional Materials Business from DSM Covestro succesfully completed the acquisition of the Resins & Functional Materials business (RFM) from the Dutch company Royal DSM.
W
ith the aim of becoming one of the the leading global suppliers
manufacturing, and an advanced solar coatings business. In addition,
for sustainable coating resins and further expanding its
Covestro is enhancing its technology portfolio to include water-based
portfolio, Covestro acquired DSM’s Resins & Functional
hybrid technologies, powder coating resins as well as radiation curing
Materials business.
resins.
The transaction received regulatory approval after Covestro and DSM
“With this transaction, we are strengthening our extensive portfolio with
signed an acquisition agreement in late September 2020. The integration
further innovative products and technologies that will enable us to meet
of RFM will expand the Group’s revenues by around EUR 1 billion and will
our customers’ needs in optimal fashion. Now our focus is on integrating
add more than 20 sites to its global production network.
the teams, leveraging talent and providing the best possible support for
“The acquisition of RFM significantly contributes to the implementation
our new and existing customers”, adds Sucheta Govil, Chief Commercial
of our new Group strategy. With this transaction, we are taking another
Officer at Covestro.
important step towards sustainability, while at the same time generating
Following a comprehensive analysis, Covestro expects permanent
sustainable growth,” said Dr. Markus Steilemann, CEO of Covestro.
(“run-rate”) synergy effects to build-up to about EUR 120 million per
“We are looking forward to meeting our new colleagues and warmly
annum from full integration by 2025. These consist of approximately
welcoming them to Covestro.”
two-thirds of cost and one-third of revenue synergies.
Through the acquisition of RFM, Covestro is adding to its portfolio a complete range of water-based polyacrylate resins, as well as strong
For further information:
brands in terms of sustainability such as Niaga , solutions for additive
www.covestro.com and www.dsm.com
®
© Covestro
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N. 69 - MAY/JUNE 2021 - international PAINT&COATING magazine
