DSM to divest amino resins to INEOS

Royal DSM NV and INEOS Melamines, a subsidiary of Switzerland-based INEOS Industries have announced that they have reached an agreement for DSM to sell its amino resins business to INEOS, effective September 1, 2011. Financial details have not been disclosed.
For DSM the divestment is a logical step after it closed its production facility in The Netherlands at the end of 2009 Ever since a supply agreement with INEOS Melamines for manufacturing melamine and benzoguanamine amino resins has been in place. INEOS will now market these amino resins directly.
The divestment and transfer of marketing activities will have minimal to no impact on DSM’s customers as the products will continue to be made according to the same process with the same specifications and in the same production facilities.
For a limited period of time INEOS is allowed to use the DSM brand name Uramex for the amino products involved.
Holger Mueller, commercial director of INEOS Melamines said: "The acquisition of the amino resins from DSM is a further step in our efforts to be the supplier of choice for amino cross linkers.
"It will help to utilise our assets and is a consistent step after we started to produce the resins for DSM almost two years ago.”