DSM sells iodine business to
Sociedad Quimica y Minera de Chile (SQM)
Thursday January 19, 12:44 pm ET
HEERLEN, NETHERLANDS--(MARKET WIRE)--Jan 19, 2006 -- Royal DSM N.V., the Dutch chemicals group, and Sociedad Química y Minera de Chile S.A. (SQM), today signed and closed the sale of the DSM business unit Minera to SQM. DSM Minera is a business unit of the DSM Fine Chemicals business group and includes the iodine and iodine derivatives facilities in the first region of Chile, the mining reserves in the first and second region of Chile and DSM's iodine and iodine derivatives commercial operations in Europe.
SQM will pay DSM a transaction price of USD 72 million cash and debt free. In addition, the operating working capital will be paid for. The transaction comprises the entire business unit, and includes the acquisition of shares in the two legal entities DSM Minera S.C.M. in Chile and DSM Minera B.V. in the Netherlands.
About SQM SQM is an integrated producer and distributor of specialty plant nutrients, iodine, lithium and industrial chemicals. Its products are based on the development of high quality natural resources that allow the company to be leader in costs, supported by a specialized international network with sales in over 100 countries. SQM's development strategy aims to maintain and strengthen its world leadership in its three main businesses: specialty plant nutrition, iodine and lithium.
About DSM Minera DSM Minera was part of the business group DSM Fine Chemicals and consists of two companies: DSM Minera S.C.M. in Chile and DSM Minera B.V. in the Netherlands. DSM Minera S.C.M. is a producer of iodine and iodine derivatives. The company owns and operates iodine mining facilities and derivative production facilities in Iquique, Chile. DSM Minera B.V. markets iodine and iodine derivatives through DSM's worldwide sales network and manages other iodine derivative production with toll manufacturers in Europe. DSM Minera employs 120 people, excluding 300 contractor employees.
About DSM DSM is active worldwide in nutritional and pharma ingredients, performance materials and industrial chemicals. The company creates innovative products and services that help improve the quality of life. DSM's products are used in a wide range of end markets and applications such as human and animal nutrition and health, cosmetics, pharmaceuticals, automotive and transport, coatings, housing and electrics & electronics (E&E). DSM's strategy, named Vision 2010 - Building on Strengths, focuses on accelerating profitable and innovative growth of the company's specialties portfolio. Market-driven growth, innovation and increased presence in emerging economies are key drivers of this strategy. The group has annual sales of approximately EUR 8 billion and employs around 23,000 people worldwide. DSM ranks among the global leaders in many of its fields. The company is headquartered in the Netherlands, with locations in Europe, Asia and the Americas. More information about DSM can be found at www.dsm.com
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