DSM (company)

{{Infobox company

| name = Royal DSM N.V.

| logo = Royal DSM.svg

| logo_size = 200px

| type = Naamloze vennootschap

| traded_as = {{unbulleted list|{{EuronextAmsterdam|DSM|NL0000009827|XAMS}}|AEX component}}

| ISIN = {{ISIN|sl=n|pl=y|NL0000009827}}

| foundation = {{start date and age|1902}}

| location = Maastricht, Netherlands

| key_people = Dimitri de Vreeze (co-CEO)
Geraldine Matchett (co-CEO)
Edith Schippers (President)
Rob Routs (Chairman of the Supervisory board)

| products = Nutritional ingredients, specialty food ingredients, engineering plastics, Dyneema, coatings, biomedical materials, biomass conversion technology, solar efficiency technology.

| homepage = [http://www.dsm.com/ www.dsm.com]

| industry = Chemicals

| revenue = €8.632 billion (2017){{cite web |url=https://annualreport.dsm.com/ar2017/en_US/index.html |title=Annual Report 2017 |access-date=12 June 2017 |publisher=DSM |archive-date=5 November 2019 |archive-url=https://web.archive.org/web/20191105163057/https://annualreport.dsm.com/ar2017/en_US/index.html |url-status=dead }}

| operating_income = €957 million (2017)

| net_income = €649 million (2017)

| assets = €12.802 billion (2017)

| equity = €7.065 billion (2017)

| num_employees = 21,054 (2017)

}}

File:Dsm headquarters heerlen netherlands 2011.jpg

Koninklijke DSM N.V. (Royal DSM, commonly known as DSM, which is the acronym for Dutch State Mines),{{Cite web |title=Our heritage {{!}} DSM |url=https://www.dsm.com/corporate/our-company/our-purpose/heritage.html |access-date=2023-05-19 |website=@corporate |language=en}} was a Dutch multinational corporation active in the fields of health, nutrition and materials. Headquartered in Maastricht, at the end of 2017 DSM employed 21,054 people in approximately 50 countries and posted net sales of €8.632 billion in 2018 and €9.204 billion in 2021.{{Cite web|title=DSM reports 2021 results {{!}} DSM|url=https://www.dsm.com/corporate/news/news-archive/2022/dsm-reports-2021-results.html|access-date=2022-02-16|website=@corporate|language=en}} In May 2023, it merged with the Swiss company Firmenich to form a new entity named dsm-firmenich.{{Cite web |title=dsm-firmenich {{!}} |url=https://www.dsm-firmenich.com/corporate/home.html |access-date=2024-05-22 |website=@corporate |language=en}}

History

DSM was formed by the Dutch state in 1902 to mine coal reserves in southern Limburg and although the company had diversified into commodity chemicals and petrochemicals by 1973, when the last mine closed, DSM retains a link to its origins by continuing to use the initials, originally an abbreviation for Dutch State Mines, to this day.{{cite book|title=De Mijnsluiting in Limburg|last=Messing|first=F.A.M.|publisher=Nijhoff|year=1988|isbn=90-6890-241-5|location=Leiden|page=224}}

During World War II researchers worked on penicillin. The code name Bacinol was used to keep the research secret from the Germans.{{cite journal| pmc=5403050 | pages=849–853 | volume=23 | issue=5 | journal=Emerg Infect Dis | title=The Discovery of Penicillin—New Insights After More Than 75 Years of Clinical Use | year=2017 | doi=10.3201/eid2305.161556| last1=Gaynes | first1=Robert }} The research was done at the company Nederlandsche Gist- en Spiritusfabriek, Dutch Yeast and Spirits Factory, later becoming DSM Sinochem Pharmaceuticals, in Delft.

In 1989, the government floated 70% of its shares in the company on the Amsterdam Stock Exchange (now Euronext Amsterdam) with the remaining 30% floated in 1996, thereby completing DSM's privatization. The 21st century has seen DSM follow successive five-year strategic periods of portfolio transformation and internationalization involving acquisitions, divestments and partnerships.{{cite book|last=Volberda, Henk|author-link=Volberda, Henk|title=Re-inventing Business|year=2013|publisher=Van Gorcum|location=Assen|isbn=978-90-232-5146-0|page=270}} In 2001, 48% of DSM's workforce was based in the Netherlands; in 2017, this was 18%.

In 2022, DSM and Swiss privately owned group Firmenich announced their intention to form a "merger of equals" to form a new group named "dsm-firmenich".

= Acquisitions =

1998: Gist-brocades (food ingredients, pharmaceuticals, yeast- and enzyme-based production process technology).{{Cite book|title=Mergers & Acquisitions: The Innovation Impact|last1=Cassiman|first1=Bruno|last2=Colombo|first2=Massimo G|publisher=Edward Elgar Publishing|year=2006|isbn=978-18-472-0158-4|location=Cheltenham|pages=145}}
2000: Catalytica Pharmaceuticals (pharmaceutical intermediates).{{Cite book |title=From Coal to Biotech: The Transformation of DSM with Business School Support |author1=Jeannet, Jean-Pierre |author2=Schreuder, Hein |publisher=Springer-Verlag |year=2015 |isbn=978-3-662-46299-7 |location=Berlin Heidelberg |pages=198, 207, 215, 233}}
2003: Roche's vitamin division.
2005: NeoResins (water-based coating resins).
2011: Martek (nutritional products derived from microalgae and fermentation technology).{{cite news|url=https://www.forbes.com/sites/willyakowicz/2022/05/09/with-a-115-million-war-chest-brightseed-is-unlocking-the-fat-fighting-power-of-hemp/?sh=5a8905242fdd|first=Will|last=Yakowicz|title=With A $120 Million War Chest, Brightseed Is Unlocking The Fat-Fighting Power Of Hemp|work=Forbes}}
2011: Vitatene (natural carotenoids derived from fermentation of Blakeslea trispora fungus).{{Cite web|url=http://www.allaboutfeed.net/Home/General/2011/7/DSM-completes-acquisition-of-Vitatene-SAU-AAF011954W/|title=DSM completes acquisition of Vitatene S.A.U.|website=AllAboutFeed|date=5 July 2011|language=en-GB|access-date=2016-03-08}}
2012: Verenium's food enzymes and oilseed processing business.{{Cite web|url=http://www.cancernetwork.com/articles/dsm-acquires-verenium-assets|title=DSM Acquires Verenium Assets|date=28 March 2012|website=www.cancernetwork.com|access-date=2016-03-08}}
2012: Kensey Nash (biomedical regenerative medicine).{{Cite web|url=http://www.marketwatch.com/story/royal-dsm-to-buy-kensey-nash-for-337m-2012-05-03|title=Royal DSM to buy Kensey Nash for $337M|last=Jones|first=Kristin|website=MarketWatch|access-date=2016-03-08}}
2012: Ocean Nutrition Canada (fish-oil derived nutritional products).{{Cite news|url=http://www.ft.com/cms/s/0/d8e1156e-a0de-11e1-851f-00144feabdc0.html#axzz42IlRK0oc|title=DSM to acquire Canadian nutrition group|last=Steinglass|first=Matt|date=18 May 2012|newspaper=Financial Times|issn=0307-1766|access-date=2016-03-08}}
2012: Cargill's cultures and enzymes business.{{Cite web|url=http://www.cargill.com/news/releases/2012/NA3068194.jsp|title=Cargill confirms signing of agreement with DSM on sale of cultures and enzymes business|website=www.cargill.com|access-date=2016-03-08}}
2012: Fortitech (customized nutrient premixes).{{Cite web|url=http://www.nutraingredients.com/Suppliers2/DSM-buys-Fortitech-for-495m-We-are-done-for-awhile|title=DSM buys Fortitech for €495m; "We are done for awhile"|last=NutraIngredients.com|website=NutraIngredients.com|date=8 November 2012 |access-date=2016-03-08}}
2013: Unitech (micronutrient premixes and macronutrient blends).{{Cite web|url=http://www.business.govt.nz/companies/app/ui/pages/companies/79460/detail|title=NZ Ministry of Business, Innovation and Employment|website=www.business.govt.nz|access-date=2016-03-08}}
2013: Andre Pectin (food hydrocolloids).{{Cite web|url=http://www.rttnews.com/2200028/dsm-closes-acquisition-of-andre-pectin-s-stake-quick-facts.aspx |title=DSM Closes Acquisition Of Andre Pectin's Stake – Quick Facts |website=RTTNews |access-date=2016-03-08 |url-status=dead |archive-url=https://web.archive.org/web/20160309040101/http://www.rttnews.com/2200028/dsm-closes-acquisition-of-andre-pectin-s-stake-quick-facts.aspx |archive-date=2016-03-09 }}
2013: Tortuga (nutritional supplements for pasture raised cattle).{{Cite news|url=https://www.bloomberg.com/news/articles/2012-08-08/dsm-buys-animal-nutrition-supplier-tortuga-for-576-million-1-|title=DSM Buys Animal-Nutrition Supplier Tortuga for $576 Million|last=Andrew Noel|website=Bloomberg.com|date=8 August 2012 |access-date=2016-03-08}}
2015: Åland (vitamin C).{{Cite web|url=http://www.feednavigator.com/Suppliers/Vitamin-C-supply-Aland-deal-won-t-change-DSM-s-global-ranking|title=Vitamin C supply: Aland deal won't change DSM's global ranking|last=FeedNavigator.com|website=FeedNavigator.com|date=10 July 2014 |access-date=2016-03-08}}
2015: Cubic Tech (high-performance, ultra-lightweight, flexible laminates and fabrics).{{Cite web|url=http://www.azcentral.com/story/money/business/2015/05/13/mesa-cubic-tech-corp-purchased/27277359/|title=Mesa's Cubic Tech Corp. purchased by Dutch company|website=azcentral|access-date=2016-03-08}}
2020: Erber Group – Biomin and Romer Labs (mycotoxin and allergen tests in food).{{Cite web|url=https://www.dsm.com/corporate/news/news-archive/2020/22-20-dsm-to-add-world-leading-animal-nutrition-and-health-specialty-businesses-with-acquisition-of-erber-group.html|title=DSM to add world-leading animal nutrition and health specialty businesses with acquisition of Erber Group | DSM}}
2020: Glycom (human milk oligosaccharides, infant formula supplement).{{Cite web|title=DSM completes acquisition of Glycom {{!}} DSM|url=https://www.dsm.com/corporate/news/news-archive/2020/18-20-dsm-completes-acquisition-of-glycom.html|access-date=2022-02-16|website=@corporate|language=en}}
2021: Amyris Flavor & Fragrance business.{{Cite web|title=DSM acquires Flavor & Fragrance bio-based intermediates business from Amyris {{!}} DSM|url=https://www.dsm.com/corporate/news/news-archive/2021/06-21-dsm-acquires-flavor-and-fragrance-bio-based-intermediates-business-from-amyris.html|access-date=2022-02-16|website=@corporate|language=en}}

= Divestments =

2002: Petrochemicals (hydrocarbons, polyethylenes, polypropylenes, polyolefins).{{Cite web|url=http://www.gulfindustryworldwide.com/news/1434_Sabic-gets-world-boost.html|title=Gulf Industry Online – Sabic gets world boost|website=www.gulfindustryworldwide.com|access-date=2016-03-15}}
2001: Quinine and Cinchona Alcaloids to {{ill|Buchler GmbH|de}}.{{Cite web|url=https://www.cnmc.es/index.php/eu/node/339052 |title=Spanish National Commission for Markets and Competition CNMC |website=www.cnmc.es |access-date=21 January 2021}}
2010: Ammonia, fertilizer and melamine.{{Cite web|url=http://www.ocinitrogen.com/EN/Pages/History.aspx|title=History of OCI Nitrogen |website=www.ocinitrogen.com |access-date=2016-03-08}}
2010: Thermoplastic elastomers.{{Cite web|url=http://www.teknorapex.com/division/divsarlink/index.html?cat=344 |title=Teknor Apex Company has acquired the Sarlink TPV product range |website=www.teknorapex.com |access-date=2016-03-08 |url-status=dead |archive-url=https://web.archive.org/web/20160309051227/http://www.teknorapex.com/division/divsarlink/index.html?cat=344 |archive-date=2016-03-09 }}
2010: EP(D)M rubber.{{Cite web|url=http://lanxess.com/en/corporate/media/press-releases/lanxess-completes-acquisition-of-dsm-elastomers/?tx_editfiltersystem_pi1%255Bname%255D=DSM&tx_editfiltersystem_pi1%255Bmatrix_segment%255D=0&tx_editfiltersystem_pi1%255Bmatrix_business_unit%255D=|title=Press Releases – LANXESS News|website=lanxess.com|access-date=2016-03-15}}
2010: Toluene oxidation.{{Cite web|url=http://www.emeraldmaterials.com/cms/epm/page.html?p_name=EMERALD%20PERFORMANCE%20MATERIALS%20COMPLETES%20ACQUISITION%20OF%20DSM%20SPECIAL%20PRODUCTS%2C%20BV|title=Emerald Performance Materials completes acquisition of DSM Specialty Products, BV|date=2010|website=www.emeraldmaterials.com|access-date=2016-03-08}}
2017: Patheon, a pharmaceutical contract development and manufacturing organization (CDMO) joint venture with JLL Partners, to Thermo Fisher Scientific Inc.{{Cite press release|url=http://www.prnewswire.com/news-releases/thermo-fisher-scientific-completes-acquisition-of-patheon-300510547.html|title = Thermo Fisher Scientific Completes Acquisition of Patheon}}
2021: Resins & Functional Materials business to Covestro AG.{{Cite web|title=DSM completes sale of Resins & Functional Materials businesses {{!}} DSM|url=https://www.dsm.com/corporate/news/news-archive/2021/07-21-dsm-completes-sale-of-resins-and-functional-materials-businesses.html|access-date=2022-02-16|website=@corporate|language=en}}
2022: Protective Materials business to Avient Corporation{{cite web | url=https://www.dsm.com/corporate/news/news-archive/2022/dsm-announces-sale-of-protective-materials-business.html | title=DSM announces sale of Protective Materials business | DSM }}
2022: Engineering Materials business to Advent International and LANXESS{{cite web | url=https://www.dsm.com/corporate/news/news-archive/2022/dsm-announces-sale-of-engineering-materials-business.html | title=DSM announces sale of Engineering Materials business }}

= Partnerships =

DSM has stated that these partnerships have been created with a view to the company's ultimate exit from the businesses concerned.{{cite web |url=http://annualreport.dsm.com/ar2016/en_US/index.html |title=Annual Report 2016 |access-date=3 March 2017 |publisher=DSM |archive-date=27 June 2020 |archive-url=https://web.archive.org/web/20200627212001/https://annualreport.dsm.com/ar2016/en_US/index.html |url-status=dead }}

2009: DSM and NCPC sign contracts to establish nutrition and anti-infectives joint ventures in China{{Cite web |date=19 March 2009 |title=DSM and NCPC sign contracts to establish nutrition and anti-infectives joint ventures in China |url=http://www.dsm.com/corporate/media/informationcenter-news/2009/03/20-09-dsm-ncpc-sign-contracts-to-establish-nutrition-and-anti-infectives-joint-ventures-in-china.html |url-status=dead |archive-url=https://web.archive.org/web/20171206171935/http://www.dsm.com/corporate/media/informationcenter-news/2009/03/20-09-dsm-ncpc-sign-contracts-to-establish-nutrition-and-anti-infectives-joint-ventures-in-china.html |archive-date=6 December 2017 |access-date=26 April 2016}}
2011: DSM Sinochem Pharmaceuticals, joint venture (DSM 50%) with the Sinochem Group. DSM Sinochem Pharmaceuticals is a manufacturer of generic anti-infective molecules.
2015: ChemicaInvest, joint venture (DSM 35%) with CVC Capital Partners. ChemicaInvest consists of three business units; Aliancys (composite resins), AnQore (acrylonitrile) and Fibrant (caprolactam).

DSM has applied IFRS 11 to its associates and joint ventures since 2013.

Organization

DSM's five business groups are clustered according to product and market combinations, with the business group directors reporting directly to the Managing Board. Since 2015, DSM's activities have been grouped into three clusters: Nutrition, Materials and Innovation Center.

= Nutrition =

The Nutrition cluster is made up of DSM Nutritional Products and DSM Food Specialties. DSM Nutritional Products produces essential nutrients such as synthetic vitamins, carotenoids, human milk oligosaccharides, nutritional lipids and other ingredients for the feed, food, pharmaceutical and personal care industries. DSM Food Specialties manufactures food enzymes, cultures, yeast extracts, savory flavors, hydrocolloids and other specialty ingredients for the dairy, baking, beverage and savory segments. DSM also manufacturers a novel cattle feed additive (Bovaer) to reduce methane production from dairy production.{{Cite web|title=Minimizing methane from cattle {{!}} DSM|url=https://www.dsm.com/corporate/sustainability/our-purpose/minimizing-methane-from-cattle.html|access-date=2022-02-16|website=@corporate|language=en}} In 2021, DSM was ranked 6th on FoodTalks' list of Top 30 Global Probiotic Food Ingredient Companies.{{Cite web|last=Zhao|first=Viola|date=20 April 2021|title=2021年全球食用益生菌原料企业30强|url=https://www.foodtalks.cn/news/foodnews/top_100/5723|url-status=live|access-date=2022-01-17|website=www.foodtalks.cn|language=zh-hans|archive-url=https://web.archive.org/web/20220117114202/https://www.foodtalks.cn/news/foodnews/top_100/5723 |archive-date=2022-01-17 }}

= Materials =

The Materials cluster is made up of DSM Engineering Materials, DSM Protective Materials and DSM Resins & Functional Materials. DSM Engineering Materials’ specialty plastics are used in components for the electrical and electronics, automotive, flexible food packaging and consumer goods industries. DSM Protective Materials is the inventor, manufacturer and marketer of Dyneema. DSM Resins & Functional Materials manufacture resins solutions for paints, inks, stereolithography, and industrial and optical fiber coatings.

= Innovation Center =

In addition to the role of supporting innovation in the businesses and DSM's venturing activities, the Innovation Center is responsible for the company's ‘Emerging Business Areas’; DSM Biomedical (biomaterials and regenerative medical devices), DSM Bio-based Products & Services (biomass-conversion technology) and DSM Advanced Solar (AR-coatings and Photovoltaic-films for solar modules).

= Sustainability =

Since 2004,{{Cite web|url=http://www.biofuelsdigest.com/bdigest/2015/09/13/dsm-klm-rank-high-in-annual-dow-jones-sustainability-index/|title=DSM, KLM rank high in annual Dow Jones Sustainability Index : Biofuels Digest|website=www.biofuelsdigest.com|date=13 September 2015 |access-date=2016-03-09}} DSM has been either the Materials industry group leader, (7 years) or among the leaders in the annual Dow Jones Sustainability Index.

DSM is listed on Euronext Amsterdam and is a constituent of the AEX index. Options on DSM shares are traded on the European Option Exchange in Amsterdam. In the US, a sponsored unlisted American Depositary Receipts (ADR) programme is provided by Deutsche Bank Trust Co. Americas. These ADR's are listed on the OTCQX International Premier Marketplace.