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DSM Coating Resins acquires H
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DSM Coating Resins
: 10 May, 2004 (Company News) |
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DSM Coating Resins and H |
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DSM Coating Resins and Hüttenes-Albertus have reached an agreement on the sale of the Hüttenes-Albertus Lackrohstoffe (HAL) business for an undisclosed sum to DSM.
HAL is a German company active in the manufacture and sales of coating resins, mainly for industrial applications. The company has a turnover of approximately EUR15 million, and offers a broad range of products. During the last decade, HAL has successfully realigned its product portfolio from traditional resins to the more novel and eco-friendly water-borne systems.
Both parties are very pleased with the transfer of the business. HAL lacked the critical mass and the market coverage to successfully expand the business, while DSM Coating Resins is committed to broadening its position in water-borne resins to meet the needs of its customers.
This acquisition is in line with the aim of DSM to grow its position in the Performance Materials Cluster. According to Don Verstegen, Business Group Director of DSM Coating Resins: 'HAL has a specialist position in water-borne resins for industrial applications and we intend to grow this business by building on the existing knowledge base. It fits with our strategy of strengthening our position in coating resins for industrial applications.'
Over the coming years, HAL will continue to manufacture the existing products while production is gradually transferred to the various DSM Coating Resins manufacturing locations. The acquisition is subject to approval from the German anti-trust authorities and the parties expect to conclude the deal on 1 June 2004.
Hüttenes-Albertus Lackrohstoffe is part of Hüttenes-Albertus Chemische Werke GmbH. Over the past 9 decades the group has grown to become market leader in the foundry binder and auxiliary products market with an annual turnover of about EUR250 million in Europe and approximately EUR500 million worldwide.
Hüttenes-Albertus has eight production plants in Germany, 20 in Europe and 32 worldwide. The company is present in more than 35 countries and employs 700 people in Germany and approximately 1600 worldwide.
Hüttenes-Albertus is successful not only in the foundry market but also in the technical resin field which includes high performance resins for abrasives, clutches and brake linings, paint resins, moulding compounds and heat-resistant adhesives as well as decorative films for the furniture industry.
DSM Coating Resins Hüttenes-Albertus Chemische Werke GmbH was formed on 1 January 1970 by a merger of two strong competitors on the German foundry market, that is, Gebr. Hüttenes GmbH & Co KG, formed 1909 and based in Düsseldorf, and Albertuswerke GmbH, formed in 1905 and based in Hannover.
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