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Published in Business and Finance on Tuesday, May 7th 2013 at 1:01 GMT by Market Wire
May 07, 2013 02:23 ET
DSM to acquire 19% interest in Andre Pectin (China)
HEERLEN, THE NETHERLANDS--(Marketwired - May 7, 2013) - Royal DSM, the global Life Sciences and Materials Sciences company, announces today that it has signed agreements to acquire a 19% equity interest in Yantai Andre Pectin Co. Ltd. (Andre Pectin), a China based producer of texturing ingredients. In addition, the parties have agreed that DSM has option rights to increase its stake in Andre Pectin to a majority stake at a later stage. The agreements are subject to customary approvals and certain closing conditions, including the approval of the selling party's shareholders. Closing is expected in Q3 2013.
Andre Pectin, headquartered in Yantai (Shandong Province, China), was established in 2003 and is active in the manufacturing and sale of apple and citrus pectin, a key food ingredient providing texture, as well as pectin related health supplements. Andre Pectin realizes annual net sales of around EUR30 million.
DSM - Bright Science. Brighter Living.™
Royal DSM is a global science-based company active in health, nutrition and materials. By connecting its unique competences in Life Sciences and Materials Sciences DSM is driving economic prosperity, environmental progress and social advances to create sustainable value for all stakeholders. DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as food and dietary supplements, personal care, feed, pharmaceuticals, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy and bio-based materials. DSM's 23,500 employees deliver annual net sales of around EUR9 billion. The company is listed on NYSE Euronext. More information can be found at [ www.dsm.com ].
Press release-pdf:
[ http://hugin.info/130663/R/1699754/560853.pdf ]
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Source: DSM N.V. via Thomson Reuters ONE
[HUG#1699754]
