DSM Selling Energy, Fertilizer Assets | August 3, 2009 Issue - Vol. 87 Issue 31 | Chemical & Engineering News
Volume 87 Issue 31 | p. 16 | Concentrates
Issue Date: August 3, 2009

DSM Selling Energy, Fertilizer Assets

Department: Business
Keywords: DSM, Urea, TAQA, Abu Dhabi, Marie Tecnimont

DSM is divesting its energy and urea licensing businesses as part of its effort to focus on life and material sciences. The company is selling DSM Energie Holding to TAQA Abu Dhabi National Energy for $400 million. The DSM unit owns stakes in oil and gas exploration and pipeline operations. It had net sales of $225 million in 2008. DSM is also selling its Stamicarbon urea licensing business to Italy's Marie Tecnimont for $53 million. The business had $80 million in sales in 2008 and has generated about $14 million in operating profits annually over the past four years.

 
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