14 Apr 2010
DSM expands Composite Resins business into Turkey and neighboring region
Latest plans aim to establish local source of supply for standard and specialty resins through local cooperation with DYO
Schaffhausen, CH, April 14th, 2010 - DSM Composite Resins, through its subsidiary Euroresins Kompozit Ürünler Tic. Ltd. Sti, (a.k.a Euroresins Turkey) (ERT) has outlined its future growth plans for Turkey which include closer cooperation with Turkish company Dyo Boya Fabrikalari Sanayi ve Tic. A.S. (DYO). The arrangement, which means DSM will obtain a local source of supply of its standard resins in the rapidly growing Turkish polyester market, also involves a transfer of DYO’s existing unsaturated polyester resins (UPR) business to ERT. The entire deal, which will provide a basis for the introduction of DSM’s specialty and innovation grades to Turkey and the broader region, is intended to be completed by end of June 2010 subject to approval by the respective competition authorities.
This planned investment in its Turkish operations is in line with DSM’s growth strategy for emerging economies. “The addition of DYO’s UPR business to ERT’s existing portfolio should not only create a significant amount of new business for DSM in the Turkish market but also bring new export opportunities to the Middle East and the countries surrounding Turkey including Russia, the Balkans and CIS countries,” comments Sertaç Sürür, managing director of DSM Composite Resins Turkey. “Moreover, establishing local production capabilities for DSM standard resins will make them locally available to the Turkish market with higher service levels, and will provide us with a platform to promote the use of our specialty and innovation products in Turkey’s growth industries, where manufacturers are seeking greater innovation and value as they compete at an international level.”
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Notes for editors
About DYO
DYO, a subsidiary of Yasar Holding group was formally established in 1955 as a manufacturer of paints and acrylics. It started its captive resin production in 1959, with polyester resin production commencing 10 years later under the “Dewilux” brand in Turkey. The company’s overall net sales in 2009 was c. 110 million Euros. DYO’s strategy for 2010 onwards is to focus on its core competencies and to move out of non-focus businesses such as polyester production. It has two production facilities in Gebze (near Istanbul) and Izmir, which is also the location of the company’s headquarters. The Yasar Holding Group consists of 22 companies serving the coatings, food and beverage, tissue, foreign trade, energy and tourism construction industries. It has more than 6,000 employees and achieved a total net sales of 0.9 billion Euros in 2009.
About DSM Composite Resins
DSM Composite Resins is part of DSM Resins - a group within the Performance Materials cluster of DSM - and is the largest producer of structural resins in Europe and a technology leader in resins for the composites industry. The company is expanding globally, especially in China and India, targeting high added-value segments. Customers are supported via dedicated Centers of Excellence and served either directly or via its Euroresins distribution network. DSM can claim unique competencies throughout the composites value chain. For more information visit the DSM Composite Resins website: www.dsmcompositeresins.com.
About DSM – the Life Sciences and Materials Sciences Company
Royal DSM N.V. creates solutions that nourish, protect and improve performance. Its end markets include human and animal nutrition and health, personal care, pharmaceuticals, automotive, coatings and paint, electrical and electronics, life protection and housing. DSM manages its business with a focus on the triple bottom line of economic prosperity, environmental quality and social equity, which it pursues simultaneously and in parallel. DSM has annual net sales of about €8 billion and employs some 22,700 people worldwide. The company is headquartered in the Netherlands, with locations on five continents. DSM is listed on Euronext Amsterdam.
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