DSM completes acquisition of majority share in China-based UHMWPE fiber manufacturer
Royal DSM N.V. announced that it has successfully completed the acquisition of a majority share of 91.75% in Shandong ICD High Performance Fiber Co. Ltd. (ICD), based in Laiwu, Shandong province, China. Financial terms of the acquisition are not disclosed.
ICD is a manufacturer of UHMWPE (ultra high molecular weight polyethylene) fiber and a strong player in the high-performance fiber market in China. The acquisition brings complementary manufacturing and technology assets to DSM and substantially strengthens the company's presence in this key market.
Nico Gerardu, member of the DSM Managing Board and responsible for DSM's Performance Materials cluster, commented: "We are delighted to have completed this acquisition and we welcome ICD to DSM. This acquisition reflects our continued commitment to China and our strategy of investing in High Growth Economies as well as in partners with proven success and high growth potential."
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