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ICD, based in Laiwu, Shandong, produces ultra high molecular weight polyethylene fibers. DSM, headquartered in Heerlen, The Netherlands, expects the deal to be completed within 2011.
According to DSM, ICD has the potential to occupy a strong position in China's high-performance fiber market.
Nico Gerardu, member of DSM's management committee for the high-performance materials business, said in a press release: “We have devoted a lot of time and energy to finding suitable partners for the acquisition. We are very optimistic that ICD will bring the DSM business portfolio. New prospects."
ICD general manager Ren Yi added that ICD will benefit from DSM's global expertise, first-rate operating standards and technical expertise.
DSM Shandong ICD Performance Fiber
The Royal DSM Group announced on February 17 that it has signed a contract to acquire a majority stake in Shandong ICD Performance Fiber Co., Ltd.