KDSKF - DSM Completes Creation of Vitamin E Joint Venture With Nenter - JV Stops Production for Significant Upgrade of Plant to DSM Standards
HEERLEN, Netherlands, Aug. 27, 2019 /PRNewswire/ -- Royal DSM, a global science-based company in Nutrition, Health and Sustainable Living, has completed the creation of a 75/25 joint venture (JV) with Nenter & Co., Inc., as first announced on 29 January 2019. The JV acquired all Nenter's Jingzhou Vitamin E production and related assets. The JV will immediately start implementing the anticipated upgrade activities to ensure compliance with DSM's safety, health and environmental standards, and therefore will stop production. The shutdown will last as long as needed to finalize these significant upgrades.
The JV now owns and will operate the vitamin E production facilities in Jingzhou, Hubei, China and has a minority shareholding in Nenter's Shishou facility, in Hubei, China, where an intermediate for vitamin E is produced. The JV will produce vitamin E exclusively for DSM.
The JV will upgrade and refurbish the facilities to secure a high-quality and sustainable supply of vitamin E, which complies with DSM's safety, health and environmental standards.
The shutdown that was already planned as from the beginning of September will be extended to enable the implementation of these upgrade activities. As soon as there is more clarity on the total duration of the shutdown, an update will be given.
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Royal DSM is a global, purpose-led, science-based company active in Nutrition, Health and Sustainable Living. DSM's purpose is to create brighter lives for all. DSM addresses with its products and solutions some of the world's biggest challenges while simultaneously creating economic, environmental and societal value for all its stakeholders – customers, employees, shareholders, and society at large. DSM delivers innovative solutions for human nutrition, animal nutrition, personal care and aroma, medical devices, green products and applications, and new mobility and connectivity. DSM and its associated companies deliver annual net sales of about €10 billion with approximately 23,000 employees. The company was founded in 1902 and is listed on Euronext Amsterdam. More information can be found at www.dsm.com.
Forward-looking statements
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