DSM and CVC form joint venture for intermediates and composite resins

Royal DSM and CVC Capital Partners (CVC) announced that the partnership for DSM's activities in Polymer Intermediates (Caprolactam and Acrylonitrile) and Composite Resins has been finalized through the establishment of a new company, ChemicaInvest B.V. The transaction which was first made known in March has received all regulatory approvals in July 2015.

In this partnership, DSM contributed its global caprolactam business  covering Europe and North America, its 60% stake in DNCC (China) and the caprolactam licensing business;  acrylonitrile business and composite resins business including its 75% stake in JDR (China). DSM's 65% stake in the service organization Sitech Services held via its caprolactam and acrylonitrile businesses was also transferred.

ChemicaInvest operates as an independent company with three business units: caprolactam, acrylonitrile and composite resins. Approximately 1,900 employees have transferred to ChemicaInvest, which is now 65% owned by CVC and 35% by DSM.