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Comment Business & Economics

DSM to sell urea-licensing business to Maire Tecnimont

By Gerald Ondrey |

Royal DSM N.V. (Heerlen, Netherlands; www.dsm.com) and Maire Tecnimont S.p.A. (Rome, Italy; www.mairetecnimont.it) announce today that they have reached an agreement for the sale of DSM’s urea-licensing subsidiary Stamicarbon B.V. to Maire Tecnimont for a total consideration of 38-million euros on a cash and debt-free basis. The intended sale is expected to close by Q4 2009, subject to regulatory and other customary approvals and notifications. Stamicarbon, founded in 1947, is the world market leader in licensing urea technology with over 250 licensed urea plants located in over eighty different countries and a leading market share in new capacity. Urea, mainly used as a fertilizer, is produced from ammonia and carbon dioxide. Stamicarbon realized net sales of €57 million in 2008 and an operating profit of €25 million. In 2008 Stamicarbon’s operating profit was exceptionally high as a result of a number of large contracts closed during the year. The average operating profit for Stamicarbon has been approximately €10 million per year over the past four years. Stamicarbon employs about 50 people in urea licensing, almost all of which are engineers and technical staff. Stamicarbon licenses patented technology…
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