Multinational chemical company Royal DSM NV has acquired a 51 percent stake in Taiwan’s AGI Corp (新力美) through a private placement and a public tender offer of about 41 million euros (US$57.5 million) in total.
The acquisition of a controlling stake in the Neihu (內湖), Taipei City-based AGI, first announced in December last year, was aimed to help DSM expand its footprint in the ultraviolet (UV) paint and ink system sectors in high-growth economies, the Dutch company said yesterday in a statement distributed by Marketwire.
AGI offers UV-curable resins and other products. These products are used in coatings and inks for wood, flooring, plastic and graphic arts applications. The company on June 23 gained the Investment Commission’s approval to sell its shares to DSM.
“The acquisition of 51 percent of AGI allows DSM to strengthen its UV resins technology platform,” DSM Resins & Functional Materials president Dimitri de Vreeze said in the statement. “We look forward to working with AGI and its shareholders, management and employees.”
AGI chairman Bill Chung (鍾信勇) said yesterday he was confident the strategic partnership between the two would “generate a compelling and high-potential future for AGI’s customers, shareholders and employees.”
The Taiwanese company, whose shares trade on the emerging stock GRETAI Securities Market, reported NT$59.43 million (US$2.05 million) in profit last year on revenues of NT$4.05 billion. It made NT$307 million in profit in 2009 on revenues of NT$3.52 billion.
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