DSM, Mitsubishi Chemical complete swap of business units

Thermoplastics supplier DSM Engineering Plastics has completed the acquisition of Mitsubishi Chemical Corporation’s (MCC) Novamid polyamide business in exchange for DSM’s Xantar polycarbonate business.

The companies had signed the contracts for the swap in February 2010. Financial details of the transaction were not disclosed.

A number of key employees of DSM’s polycarbonate business are transferred to MCC and a number of employees of MCC are seconded to DSM, the companies said.

According to Geleen, Netherlands-based DSM, the swap will enable it to expand its position in Japan, an important market. This follows on the heels of DSM opening its first polyamide polymerization plant in China last year, and opening a nylon compounding facility in India earlier this year.

For Tokyo-based MCC, meanwhile, the swap gives it a stronger foothold in Europe. The company said it plans to establish an R&D unit at the Chemelot Research and Technology campus in Geleen.