MOSCOW (MRC) -- Royal DSM, a global purpose-led, science-based company in Nutrition, Health and Sustainable Living, says it has recently completed the repurchase of 1.4 million of its own shares at an average price of EUR98.40 (USD111.4), for a total consideration of EUR137.8 million, reported Chemweek.
The repurchase follows the company’s announcement on 2 March that it would cover commitments under share-based compensation plans and shares for stock dividends, DSM says.
DSM has also decided to cancel the rest of its EUR1-billion share buy-back program, announced in February 2019, the company says. The decision to cancel the buy-back follows the acquisition of Erber Group, announced in H1 June, 2020, and is a "prudent measure" in the COVID-19 environment, the company says.
Under the program, DSM repurchased 5.4 million shares for a total consideration of EUR600 million in 2019 and another 1.3 million shares for a total consideration of EUR145 million in 2020, bringing the total number of shares repurchased to about 6.6 million for a total consideration of EUR745 million, the company says.
As MRC informed earlier, this month, Royal DSM and Clariant, a focused, sustainable and innovative specialty chemical company, announced an agreement for DSM to take over certain parts of Clariant’s 3D printing business portfolio.
We remind that in June 2020, TechnipFMC and Clariant Catalysts entered into a joint development agreement for the demonstration and commercialisation of Clariant’s new state-of-the-art AcryloMax propylene ammoxidation catalyst for the production of acrylonitrile (ACN).
Besides, in May 2020, Clariant’s CATOFIN catalysts was selected by Advanced Global Investment Co. (AGIC), a joint venture between Advanced Petrochemical Company (APC) and SK Group, to build a PDH facility in the Middle East.
Propylene is the main feedstock for the production of polypropylene (PP).
According to MRC's ScanPlast report, PP shipments to the Russian market totalled 347,440 tonnes in January-April 2020 (calculated by the formula production minus export plus import). Supply exclusively of PP random copolymer increased.
Royal DSM is a global science-based company active in health, nutrition and materials. DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as food and dietary supplements, personal care, feed, pharmaceuticals, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy and bio-based materials.