According to DSM's letter of intent with DYO, DYO will begin toll manufacture of DSM Composite Resins standard resins by the third quarter of 2010, while DYO’s existing unsaturated polyester resins business will transfer to ERT.
Announcing the news at a press conference at the JEC Composites Show in Paris in April, Michael Effing, President of DSM Composite Resins, noted that Turkey is an emerging economy, with a fast growing composites market. The country is also a solid platform from which to expand into the Middle East and CIS (Commonwealth of Independent States) countries (which include Ukraine and Russia).
According to Effing, the resin business in Turkey was 60 000 tonnes in 2009, and the biggest markets (in terms of volume) are pipe and construction, and automotive.
“The addition of DYO’s UPR [unsaturated polyester resin] business to ERT’s existing portfolio should not only create a significant amount of new business for DSM in the Turkish market but also bring new export opportunities to the Middle East and the countries surrounding Turkey including Russia, the Balkans and CIS countries,” comments Sertaç Sürür, managing director of DSM Composite Resins Turkey.
“Moreover, establishing local production capabilities for DSM standard resins will make them locally available to the Turkish market with higher service levels, and will provide us with a platform to promote the use of our speciality and innovation products in Turkey’s growth industries, where manufacturers are seeking greater innovation and value as they compete at an international level.”
The deal is expected to be completed by end of June 2010.
DYO, a subsidiary of Yasar Holding group, was established in 1955 as a manufacturer of paints and acrylics. It started its captive resin production in 1959, with polyester resin production commencing 10 years later under the Dewilux brand in Turkey. DYO has two production facilities in Gebze (near Istanbul) and Izmir, which is also the location of the company’s headquarters.
DSM Composite Resins, headquartered in Switzerland, is part of DSM Resins, part of the Performance Materials cluster of DSM.
- At the JEC press conference, Effing also noted that DSM is currently investigating building a new plant for the manufacture of composite resins in China. DSM Composite Resins already has two production plants in the country. The market for thermoset resins (unsaturated polyester and vinyl ester) for composite applications in China was 770 000 tons in 2008; DSM will focus on supplying speciality products for the market.
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