DSM (company)

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Royal DSM N.V.
Native name
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Company type
Naamloze vennootschap
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HeadquartersMaastricht, Netherlands
Key people
Dimitri de Vreeze (co-CEO)
Geraldine Matchett (co-CEO)
Edith Schippers (President)
Rob Routs (Chairman of the Supervisory board)
ProductsNutritional ingredients, specialty food ingredients, engineering plastics, Dyneema, coatings, biomedical materials, biomass conversion technology, solar efficiency technology.
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Total equity€7.065 billion (2017)[1]
Number of employees
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Websitedsm.com

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Koninklijke DSM N.V. (Royal DSM, commonly known as DSM, which is the acronym for Dutch State Mines),[2] 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[1] and €9.204 billion in 2021.[3] In May 2023, it merged with the Swiss company Firmenich to form a new entity named dsm-firmenich.[4]

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.[5]

During World War II researchers worked on penicillin. The code name Bacinol was used to keep the research secret from the Germans.[6] The research was done at the company Template:Langx, 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 privatisation. The 21st century has seen DSM follow successive five-year strategic periods of portfolio transformation and internationalisation involving acquisitions, divestments and partnerships.[7][8] In 2001, 48% of DSM's workforce was based in the Netherlands; in 2017, this was 18%.[1]

In 2022, DSM and Swiss privately owned group Firmenich announced their intention to form a "merger of equals" to form DSM-Firmenich.[4] The merger was completed in May 2023[9].

Acquisitions

  • 1998: Koninklijke Gist-Brocades N.V. (food ingredients, pharmaceuticals, yeast- and enzyme-based production process technology).[10]
  • 2000: Catalytica Pharmaceuticals (pharmaceutical intermediates).[8]
  • 2003: Roche – vitamin division.[8]
  • 2005: NeoResins (water-based coating resins).[8]
  • 2011: Martek Biosciences Corporation (nutritional products derived from microalgae and fermentation technology).[8][11]
  • 2011: Vitatene (natural carotenoids derived from fermentation of Blakeslea trispora fungus).[12]
  • 2012: Verenium – food enzymes and oilseed processing business division.[13]
  • 2012: Kensey Nash (biomedical regenerative medicine).[14]
  • 2012: Ocean Nutrition Canada (fish-oil derived nutritional products).[15]
  • 2012: Cargill – cultures and enzymes business division.[16]
  • 2012: Fortitech (customised nutrient premixes).[17]
  • 2013: Unitech (micronutrient premixes and macronutrient blends).[18]
  • 2013: Andre Pectin (food hydrocolloids).[19]
  • 2013: Tortuga (nutritional supplements for pasture raised cattle).[20]
  • 2015: Åland (vitamin C).[21]
  • 2015: Cubic Tech (high-performance, ultra-lightweight, flexible laminates and fabrics).[22]
  • 2020: Erber Group – Biomin and Romer Labs (mycotoxin and allergen tests in food).[23]
  • 2020: Glycom (human milk oligosaccharides, infant formula supplement).[24]
  • 2021: Amyris – Flavour & Fragrance business division.[25]

Divestments

Partnerships

DSM has stated that these partnerships have been created with a view to the company's ultimate exit from the businesses concerned.[36]

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

Organisation

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, savoury flavours, hydrocolloids and other specialty ingredients for the dairy, baking, beverage and savoury segments. DSM also manufacturers a novel cattle feed additive (Bovaer) to reduce methane production from dairy production.[38] In 2021, DSM was ranked 6th on FoodTalks' list of Top 30 Global Probiotic Food Ingredient Companies.[39]

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 fibre 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,[40] DSM has been either the Materials industry group leader, (7 years) or among the leaders in the annual Dow Jones Sustainability Index.

Shares

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.

References

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  1. ^ a b c d e f g h Page Module:Citation/CS1/styles.css has no content."Annual Report 2017". DSM. Archived from the original on 5 November 2019. Retrieved 12 June 2017.
  2. ^ Page Module:Citation/CS1/styles.css has no content."Our heritage". DSM.com. DSM. Retrieved 19 May 2023.
  3. ^ Page Module:Citation/CS1/styles.css has no content."DSM reports 2021 results". DSM.com. DSM. Retrieved 16 February 2022.
  4. ^ a b Page Module:Citation/CS1/styles.css has no content."dsm-firmenich". Retrieved 22 May 2024.
  5. ^ Page Module:Citation/CS1/styles.css has no content.Messing, F.A.M. (1988). De Mijnsluiting in Limburg. Leiden: Martinus Nijhoff Publishers. p. 224. ISBN 90-6890-241-5.
  6. ^ Page Module:Citation/CS1/styles.css has no content.Gaynes, Robert (2017). "The Discovery of Penicillin—New Insights After More Than 75 Years of Clinical Use". Emerg Infect Dis. 23 (5): 849–853. doi:10.3201/eid2305.161556. PMC 5403050.
  7. ^ Page Module:Citation/CS1/styles.css has no content.Volberda, Henk (2013). Re-inventing Business. Assen: Van Gorcum. p. 270. ISBN 978-90-232-5146-0.
  8. ^ a b c d e Page Module:Citation/CS1/styles.css has no content.Jeannet, Jean-Pierre; Schreuder, Hein (2015). From Coal to Biotech: The Transformation of DSM with Business School Support. Berlin Heidelberg: Springer-Verlag. pp. 198, 207, 215, 233. ISBN 978-3-662-46299-7.
  9. ^ Page Module:Citation/CS1/styles.css has no content."Firmenich completes merger of equals with DSM". DSM.com. DSM. Retrieved 14 May 2026.
  10. ^ Page Module:Citation/CS1/styles.css has no content.Cassiman, Bruno; Colombo, Massimo G (2006). Mergers & Acquisitions: The Innovation Impact. Cheltenham: Edward Elgar Publishing. p. 145. ISBN 978-18-472-0158-4.
  11. ^ Page Module:Citation/CS1/styles.css has no content.Yakowicz, Will. "With A $120 Million War Chest, Brightseed Is Unlocking The Fat-Fighting Power Of Hemp". Forbes.
  12. ^ Page Module:Citation/CS1/styles.css has no content."DSM completes acquisition of Vitatene S.A.U." AllAboutFeed. 5 July 2011. Retrieved 8 March 2016.
  13. ^ Page Module:Citation/CS1/styles.css has no content."DSM Acquires Verenium Assets". www.cancernetwork.com. 28 March 2012. Retrieved 8 March 2016.
  14. ^ Page Module:Citation/CS1/styles.css has no content.Jones, Kristin. "Royal DSM to buy Kensey Nash for $337M". MarketWatch. Retrieved 8 March 2016.
  15. ^ Page Module:Citation/CS1/styles.css has no content.Steinglass, Matt (18 May 2012). "DSM to acquire Canadian nutrition group". Financial Times. ISSN 0307-1766. Retrieved 8 March 2016.
  16. ^ Page Module:Citation/CS1/styles.css has no content."Cargill confirms signing of agreement with DSM on sale of cultures and enzymes business". www.cargill.com. Retrieved 8 March 2016.
  17. ^ Page Module:Citation/CS1/styles.css has no content.NutraIngredients.com (8 November 2012). "DSM buys Fortitech for €495m; "We are done for awhile"". NutraIngredients.com. Retrieved 8 March 2016.
  18. ^ Page Module:Citation/CS1/styles.css has no content."NZ Ministry of Business, Innovation and Employment". www.business.govt.nz. Retrieved 8 March 2016.
  19. ^ Page Module:Citation/CS1/styles.css has no content."DSM Closes Acquisition Of Andre Pectin's Stake – Quick Facts". RTTNews. Archived from the original on 9 March 2016. Retrieved 8 March 2016.
  20. ^ Page Module:Citation/CS1/styles.css has no content.Andrew Noel (8 August 2012). "DSM Buys Animal-Nutrition Supplier Tortuga for $576 Million". Bloomberg.com. Retrieved 8 March 2016.
  21. ^ Page Module:Citation/CS1/styles.css has no content.FeedNavigator.com (10 July 2014). "Vitamin C supply: Aland deal won't change DSM's global ranking". FeedNavigator.com. Retrieved 8 March 2016.
  22. ^ Page Module:Citation/CS1/styles.css has no content."Mesa's Cubic Tech Corp. purchased by Dutch company". azcentral. Retrieved 8 March 2016.
  23. ^ Page Module:Citation/CS1/styles.css has no content."DSM to add world-leading animal nutrition and health specialty businesses with acquisition of Erber Group | DSM".
  24. ^ Page Module:Citation/CS1/styles.css has no content."DSM completes acquisition of Glycom". DSM.com. DSM. Retrieved 16 February 2022.
  25. ^ Page Module:Citation/CS1/styles.css has no content."DSM acquires Flavour & Fragrance bio-based intermediates business from Amyris". DSM.com. DSM. Retrieved 16 February 2022.
  26. ^ Page Module:Citation/CS1/styles.css has no content."Gulf Industry Online – Sabic gets world boost". www.gulfindustryworldwide.com. Retrieved 15 March 2016.
  27. ^ Page Module:Citation/CS1/styles.css has no content."Spanish National Commission for Markets and Competition CNMC". www.cnmc.es. Retrieved 21 January 2021.
  28. ^ Page Module:Citation/CS1/styles.css has no content."History of OCI Nitrogen". www.ocinitrogen.com. Retrieved 8 March 2016.
  29. ^ Page Module:Citation/CS1/styles.css has no content."Teknor Apex Company has acquired the Sarlink TPV product range". www.teknorapex.com. Archived from the original on 9 March 2016. Retrieved 8 March 2016.
  30. ^ Page Module:Citation/CS1/styles.css has no content."Press Releases – LANXESS News". lanxess.com. Retrieved 15 March 2016.
  31. ^ Page Module:Citation/CS1/styles.css has no content."Emerald Performance Materials completes acquisition of DSM Specialty Products, BV". www.emeraldmaterials.com. 2010. Archived from the original on 9 March 2016. Retrieved 8 March 2016.
  32. ^ Page Module:Citation/CS1/styles.css has no content."Thermo Fisher Scientific Completes Acquisition of Patheon" (Press release).
  33. ^ Page Module:Citation/CS1/styles.css has no content."DSM completes sale of Resins & Functional Materials businesses". DSM.com. DSM. Retrieved 16 February 2022.
  34. ^ Page Module:Citation/CS1/styles.css has no content."DSM announces sale of Protective Materials business". DSM.com. DSM.
  35. ^ Page Module:Citation/CS1/styles.css has no content."DSM announces sale of Engineering Materials business". DSM.com. DSM.
  36. ^ Page Module:Citation/CS1/styles.css has no content."Annual Report 2016". DSM.com. DSM. Archived from the original on 27 June 2020. Retrieved 3 March 2017.
  37. ^ Page Module:Citation/CS1/styles.css has no content."DSM and NCPC sign contracts to establish nutrition and anti-infectives joint ventures in China". DSM.com. DSM. 19 March 2009. Archived from the original on 6 December 2017. Retrieved 26 April 2016.
  38. ^ Page Module:Citation/CS1/styles.css has no content."Minimising methane from cattle". DSM.com. DSM. Retrieved 16 February 2022.
  39. ^ Page Module:Citation/CS1/styles.css has no content.Zhao, Viola (20 April 2021). "2021年全球食用益生菌原料企业30强". www.foodtalks.cn (in 中文（简体）). Archived from the original on 17 January 2022. Retrieved 17 January 2022.
  40. ^ Page Module:Citation/CS1/styles.css has no content."DSM, KLM rank high in annual Dow Jones Sustainability Index: Biofuels Digest". www.biofuelsdigest.com. 13 September 2015. Archived from the original on 2 December 2022. Retrieved 9 March 2016.

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