DSM Coating Resins has outlined plans to align the organization with its strategic focus on its core coating and graphic arts resins markets. As part of these plans, the business unit will merge two business units (formerly known as DSM Powder Coating Resins and DSM NeoResins+), which was announced earlier this year.
The company reported that DSM aims to further improve the financial performance of this newly formed business unit, which is necessary also due to the challenging economic circumstances and weak building and construction markets especially in Europe and North America. As a result of the alignment, the number of worldwide positions at DSM Coating Resins will be reduced by 150 full time employees.
“DSM Coating Resins will continue its drive to develop resins for innovative, sustainable coating solutions, such as water-based, powder and UV coating systems,” said Patrick Niels, business unit director, DSM Coating Resins. “In order to do that, we need to ensure sufficient financial returns. This organizational alignment will address our cost base, as well as sharpen our focus on developments in our core technologies and segments. This will allow us to continue to invest in developing innovative sustainable resin systems for our customers, while at the same time safeguarding our returns also in an economically challenging environment.”