DSM to sell Sarlink unit to Teknor Apex
Royal DSM N.V. announced that it has reached an agreement regarding the sale of the business unit Thermoplastic elastomers (Sarlink®), part of the business group DSM Elastomers, to Teknor Apex Company (Teknor Apex). The intended sale is expected to close in Q4 2010, subject to regulatory and other customary approvals and notifications.
The intended sale of the business unit is a result of DSM’s ambitions to focus on Life Sciences and Materials Sciences. As announced in September 2007, DSM Elastomers (Sarlink® and Keltan®) does not fit with this focus.
Both parties have agreed not to disclose financial details at this time. DSM expects to report a small book profit as a result of the transaction upon closing. Approximately 90 employees will transfer to the new owner upon closing.
Sarlink® has compounding operations in Leominster (Massachusetts, United States) and Genk (Belgium). While the business unit will operate as an integral part of Teknor Apex, it will continue to sell its TPVs (thermoplastic vulcanizate) under the Sarlink® name. In 2009 Sarlink® realized net sales of over EUR 50 million.
Sarlink® is one of the two business units of the business group DSM Elastomers. The selling process for Keltan® (EPDM), the other business unit of DSM Elastomers, as well as most of the remaining other businesses in Base Chemicals and Materials is ongoing.
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