Royal DSM N.V. of the Netherlands intends to acquire a 51 percent stake in AGI Corporation of Taiwan (AGI). AGI offers a broad range of UV (ultraviolet) curable resins and other products that are used in coatings for paper, wood, plastic and graphic arts applications. AGI reported net sales in 2009 of NTD 3,561 million (approximately €90 million). AGI is listed on the emerging companies board of the GreTai Securities Market in Taipei. The intended acquisition will be for a 51 percent stake for about €48 million. “The acquisition of 51 percent of AGI will allow DSM Resins to strengthen its UV technology platform," said Dimitri de Vreeze, president of DSM Resins. "UV curing is environmentally friendly and the winning technology for the future. UV paint and ink systems have a low eco-footprint in combination with low total operational costs. Therefore the acquisition will enhance the innovative and sustainable character of our portfolio." DSM said the public tender offer will be launched through a wholly-owned DSM subsidiary towards the end of Q1 2011 following AGI corporate approvals for the private placement of new shares.
DSM to Acquire 51% of AGI Corporation
Published December 8, 2010
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