HEERLEN, Netherlands, July 11, 2014 (GLOBE NEWSWIRE) -- Royal DSM, the global Life Sciences and Materials Sciences company, announces today it has reached agreement to acquire Aland (HK) Holding Limited ("Aland"), a Hong Kong-based company producing vitamin C in mainland China. Financial details will not be disclosed at this time. Subject to customary conditions, the transaction is expected to close in the next six to nine months. DSM previously announced on 9 April 2014 that it was in exclusive discussions to acquire Aland.
Acquiring Aland, one of the leading Vitamin C manufacturers in China, allows DSM to further strengthen its position in vitamin C. Aland increases DSM's global footprint in vitamins for Human Nutrition & Health, Animal Nutrition & Health and Personal Care. DSM remains fully committed to its current vitamin C manufacturing facility in Dalry (Scotland, United Kingdom). The acquisition fully meets DSM's financial and strategic requirements.
Aland was founded in 1990 and has a production facility in Jingjiang, Jiangsu Province in China. In 2013 the company realized net sales of about USD 90 million in vitamin C with around 1,850 employees. The transaction excludes Aland's consumer health activities. DSM plans to invest in Aland's production facilities for operational excellence including quality and environmental performance.
Vitamin C, the world's largest vitamin measured by volume, is an essential health ingredient that the body cannot produce itself and that needs to be absorbed through diet or supplementation. Vitamin C is widely found in fruit and vegetables. The recommended dietary allowances for vitamin C in the United States were recently revised upwards to 90 mg/day for men and 75 mg/day for women.
DSM - Bright Science. Brighter Living.(TM)
Royal DSM is a global science-based company active in health, nutrition and materials. By connecting its unique competences in Life Sciences and Materials Sciences DSM is driving economic prosperity, environmental progress and social advances to create sustainable value for all stakeholders simultaneously. DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as food and dietary supplements, personal care, feed, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy and bio-based materials. DSM's 24,500 employees deliver annual net sales of around €10 billion. The company is listed on NYSE Euronext. More information can be found at www.dsm.com.
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Press release-pdf http://hugin.info/130663/R/1821890/630800.pdf
Source: DSM N.V.