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DSM to divest DSM Deretil in management buy-out
HEERLEN, NETHERLANDS -- (Marketwire) -- 11/19/08 --
Royal DSM N.V., the global Life Sciences and Materials Sciencescompany headquartered in the Netherlands, announces today that it hasreached an agreement with the management of DSM Deretil on amanagement buy-out. DSM Deretil is a business unit of DSMAnti-Infectives. Financial details will not be disclosed.
This divestment fits in the strategic review of DSM Anti-Infectivesas announced in June 2007. DSM believes the greatest value will begenerated through a partnering strategy combined with innovationinitiatives and restructuring measures. The review openedpossibilities for divestments of separate businesses, such as DSMDeretil.
Jan Zuidam, Deputy Chairman of the Managing Board of Directors ofRoyal DSM said: "This transaction gives better chances for DSMAnti-Infectives to fully focus on its core future activity as aleading player in generic API's, and for Deretil to focus on thespecific dynamics of the side chain business. This is a good move forboth parties, and we are convinced this will in the near future turnout a win for all involved."
Deretil will completely focus on its core business: the marketing,sales and manufacturing of side-chains for the production of ActivePharmaceutical Ingredients (API's). Lluis Franquesa, president ofDeretil: "We are proud that DSM has put the trust in us to take overfull responsibility and ownership of Deretil. We as management teamof Deretil are fully aware of our responsibilities towards, ourpeople, our customers and the society in which we operate, and arefully prepared to take this responsibility. We will continue asplanned the previously announced restructuring of the manufacturingbase, involving the closure of one of the plants on the Villaricossite in Spain and moving the production from that plant to China."
There is no significant impact on the employees of Deretil expectedas direct consequence of this management buy-out. The effect of thesale of DSM Deretil on DSM's total net sales will be approximatelyEUR 35 million. The book result of the transaction is, on balance,not expected to be material.
DSM Anti-Infectives
DSM Anti-Infectives is the world's leading supplier of activepharmaceutical ingredients such as amoxicillin, ampicillin,cephalexin and cefadroxil, the worlds most widely used broad spectrumantibiotics for combating bacterial infections. Its product portfolioalso includes nystatin, penicillin, penicillin intermediates (6-APAand 7-ADCA) and industrial enzymes. The company is headquartered inDelft, the Netherlands, and has a global presence with manufacturingfacilities in Europe, Africa, China and India and sales officesacross the globe. More information can be found onhttp://www.dsm.com/en_US/html/dai/daihomepage.htm.
DSM Deretil
DSM Deretil is part of Royal DSM N.V., through its business group DSMAnti-Infectives. DSM Deretil's core production plant is inVillaricos, Spain, and Deretil runs another facility in China. Themain offices are in Barcelona with an extensive commercial network inEurope, America and Asia, with over 400 employees. DSM Deretil'ssafety, health and environment program complies with the mostdemanding international standards and has the highest priority forthe management and its employees. DSM Deretil adheres to theResponsible Care Program. The world's leading antibiotics are allmanufactured from the raw materials produced by Deretil. Moreinformation can be found onhttp://www.dsm.com/en_US/html/deretil/Deretil_Home.htm
DSM - the Life Sciences and Materials Sciences Company
Royal DSM N.V. creates innovative products and services in LifeSciences and Materials Sciences that contribute to the quality oflife. DSM's products and services are used globally in a wide rangeof markets and applications, supporting a healthier, more sustainableand more enjoyable way of life. End markets include human and animalnutrition and health, personal care, pharmaceuticals, automotive,coatings and paint, electrics and electronics, life protection andhousing. DSM has annual sales of almost EUR 8.8 billion and employssome 23,000 people worldwide. The company is headquartered in theNetherlands, with locations on five continents. DSM is listed onEuronext Amsterdam. More information: www.dsm.com.
For more information:DSM Corporate Communications DSM Investor RelationsHerman Betten Hans Vossentel. +31 (0) 45 tel. +31 (0) 45 57828645782017 fax +31 (0) 45 5782595fax +31 (0) 45 e-mail5740680 investor.relations@dsm.come-mail media.relations@dsm.com
This announcement was originally distributed by Hugin. The issuer issolely responsible for the content of this announcement.
Press release-pdf: http://hugin.info/130663/R/1270942/281836.pdf
Copyright © Hugin AS 2008. All rights reserved.
This divestment fits in the strategic review of DSM Anti-Infectivesas announced in June 2007. DSM believes the greatest value will begenerated through a partnering strategy combined with innovationinitiatives and restructuring measures. The review openedpossibilities for divestments of separate businesses, such as DSMDeretil.
Jan Zuidam, Deputy Chairman of the Managing Board of Directors ofRoyal DSM said: "This transaction gives better chances for DSMAnti-Infectives to fully focus on its core future activity as aleading player in generic API's, and for Deretil to focus on thespecific dynamics of the side chain business. This is a good move forboth parties, and we are convinced this will in the near future turnout a win for all involved."
Deretil will completely focus on its core business: the marketing,sales and manufacturing of side-chains for the production of ActivePharmaceutical Ingredients (API's). Lluis Franquesa, president ofDeretil: "We are proud that DSM has put the trust in us to take overfull responsibility and ownership of Deretil. We as management teamof Deretil are fully aware of our responsibilities towards, ourpeople, our customers and the society in which we operate, and arefully prepared to take this responsibility. We will continue asplanned the previously announced restructuring of the manufacturingbase, involving the closure of one of the plants on the Villaricossite in Spain and moving the production from that plant to China."
There is no significant impact on the employees of Deretil expectedas direct consequence of this management buy-out. The effect of thesale of DSM Deretil on DSM's total net sales will be approximatelyEUR 35 million. The book result of the transaction is, on balance,not expected to be material.
DSM Anti-Infectives
DSM Anti-Infectives is the world's leading supplier of activepharmaceutical ingredients such as amoxicillin, ampicillin,cephalexin and cefadroxil, the worlds most widely used broad spectrumantibiotics for combating bacterial infections. Its product portfolioalso includes nystatin, penicillin, penicillin intermediates (6-APAand 7-ADCA) and industrial enzymes. The company is headquartered inDelft, the Netherlands, and has a global presence with manufacturingfacilities in Europe, Africa, China and India and sales officesacross the globe. More information can be found onhttp://www.dsm.com/en_US/html/dai/daihomepage.htm.
DSM Deretil
DSM Deretil is part of Royal DSM N.V., through its business group DSMAnti-Infectives. DSM Deretil's core production plant is inVillaricos, Spain, and Deretil runs another facility in China. Themain offices are in Barcelona with an extensive commercial network inEurope, America and Asia, with over 400 employees. DSM Deretil'ssafety, health and environment program complies with the mostdemanding international standards and has the highest priority forthe management and its employees. DSM Deretil adheres to theResponsible Care Program. The world's leading antibiotics are allmanufactured from the raw materials produced by Deretil. Moreinformation can be found onhttp://www.dsm.com/en_US/html/deretil/Deretil_Home.htm
DSM - the Life Sciences and Materials Sciences Company
Royal DSM N.V. creates innovative products and services in LifeSciences and Materials Sciences that contribute to the quality oflife. DSM's products and services are used globally in a wide rangeof markets and applications, supporting a healthier, more sustainableand more enjoyable way of life. End markets include human and animalnutrition and health, personal care, pharmaceuticals, automotive,coatings and paint, electrics and electronics, life protection andhousing. DSM has annual sales of almost EUR 8.8 billion and employssome 23,000 people worldwide. The company is headquartered in theNetherlands, with locations on five continents. DSM is listed onEuronext Amsterdam. More information: www.dsm.com.
For more information:DSM Corporate Communications DSM Investor RelationsHerman Betten Hans Vossentel. +31 (0) 45 tel. +31 (0) 45 57828645782017 fax +31 (0) 45 5782595fax +31 (0) 45 e-mail5740680 investor.relations@dsm.come-mail media.relations@dsm.com
This announcement was originally distributed by Hugin. The issuer issolely responsible for the content of this announcement.
Press release-pdf: http://hugin.info/130663/R/1270942/281836.pdf
Copyright © Hugin AS 2008. All rights reserved.
For more information, go to www.marketwire.com
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