Covestro to acquire leading sustainable coating resins business from DSM
(WorldNews Environment)

30 September 2020 | 08:22 Europe/Amsterdam Covestro to acquire leading sustainable coating resins business from DSM Significant step in the long-term corporate strategy of Covestro Summary Covestro to become one of the global leaders in attractive growth market for sustainable coating resins Combining strong innovation capabilities to accelerate transition to circular economy Complementary product portfolios and application industries excellently positioned to meet customer needs Acquisition adds EUR 1 billion in revenues and EUR 141 million EBITDA Purchase price of EUR 1.61 billion reflects attractive enterprise valuation of 5.7x EV/EBITDA 2021 including future synergies Substantial...