DSM, MCC to Exchange Polycarbonate and Polyamide Businesses

DSM Engineering Plastics said it has signed the contracts with Mitsubishi Chemical Corporation (MCC) enabling DSM to acquire MCC's Novamid polyamide business in exchange for DSM's Xantar polycarbonate business.

In May 2009 both companies already announced the signing of a memorandum of understanding for the intended swap. The transaction is subject to various external approvals. Closing is expected in Q2 2010.

A number of key employees of DSM's polycarbonate business will transfer to MCC. A number of employees of MCC will be seconded to DSM. It is also envisaged that MCC will establish an R&D unit at the Chemelot Research and Technology campus in Geleen (Netherlands).