DSM sells protective materials business for more than 1.4 billion euros
DSM announced on April 20 that it will sell its protective materials business to Avient for a value of 1.44 billion euros (about 10.1 billion yuan). The transaction is expected to be completed in the second half of this year.
The proposed transaction includes all of DSM's protective materials businesses, the most important of which are Dyneema, an ultra-high molecular weight polyethylene and the "world's strongest" man-made fiber.
In 2021, DSM's Protective Materials business will generate EUR 335 million in total sales and EBITDA of EUR 105 million. After deducting transaction costs and taxes, DSM expects to receive 1.33 billion euros in cash.
DSM announced in September 2021 that it would explore the sale of its materials business as part of the company's plans to focus on health, nutrition and bioscience.
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