Issue Date: February 9, 2009
DSM, Arsenal Drop Benzoic Acid
DSM says it won't sell its special products business to Arsenal Capital Partners as previously announced. The business, with annual sales of about $150 million, makes benzoic acid and derivatives at a plant in the Netherlands. The sale to Arsenal was announced in March 2008, but a subsequent ruling by the European Commission required Arsenal to sell a benzoic acid plant in Estonia operated by its Velsicol Chemical subsidiary. DSM says the requirement "led to the conclusion that the intended sale is no longer feasible.
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