Company type | Naamloze vennootschap |
---|---|
| |
ISIN | NL0000009827 |
Industry | Chemicals |
Founded | 1902 |
Headquarters | Heerlen, 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. |
Revenue | €8.632 billion (2017) [1] |
€957 million (2017) [1] | |
€649 million (2017) [1] | |
Total assets | €12.802 billion (2017) [1] |
Total equity | €7.065 billion (2017) [1] |
Number of employees | 21,054 (2017) [1] |
Website | www.dsm.com |
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 Heerlen, 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]
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 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. [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 a new group named "dsm-firmenich". [4]
DSM has stated that these partnerships have been created with a view to the company's ultimate exit from the businesses concerned. [35]
DSM has applied IFRS 11 to its associates and joint ventures since 2013.
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.
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. [37] In 2021, DSM was ranked 6th on FoodTalks' list of Top 30 Global Probiotic Food Ingredient Companies. [38]
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.
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).
In November 2015, DSM announced that up to 2018 it was targeting a high single-digit annual percentage increase in EBITDA and a high double-digit annual basis point increase in Return on capital employed (ROCE). It will focus on organic sales growth, reducing costs and strict capital allocation and does not expect to engage in large acquisitions in the near future. [39]
Within its corporate strategy the company also defines long-term sustainability aspirations, which include targets to improve the eco-efficiency of its operations. In November 2015, DSM set the following environmental reduction targets:
Indicators | New targets |
---|---|
GHG efficiency improvement | 45% by 2025 (reference 2008) |
Energy efficiency improvement | 1% annually (>10% from 2015 to 2025) |
Renewable electricity | 50% by 2025 |
Reduction of emissions to air per unit of product (VOC, NOX, SO2) | 40% in 2020 (reference 2015) |
Waste | 80–90% recycled by 2020 |
Water | Water risk assessments completed on 90% of selected sites by 2020 |
Since 2010, [40] the Short [1] - and Long-Term incentive [1] elements of the remuneration of DSM's Managing Board [41] and executive bonuses [42] relate to the company's financial and environmental performance in equal measure. Since 2004, [43] 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.
Firmenich SA was a Swiss company in the fragrance and flavor business. The company has created perfumes for over 125 years and produced a number of well-known flavors. Founded in 1895, it merged in May 2023 with the Dutch company DSM to form dsm-firmenich.
Danisco A/S is a Danish bio-based company with activities in food production, enzymes and other bioproducts as well as a wide variety of pharmaceutical grade excipients. It was formed in 1989 from the largest Danish industrial merger ever of the two old C.F. Tietgen companies Danish Sugar, and Dansk Handels- og Industri Company.
Kerry Group plc is a public food company headquartered in Ireland. It is quoted on the Dublin ISEQ and London stock exchanges.
Associated British Foods plc (ABF) is a British multinational food processing and retailing company headquartered in London, England.
GNC Holdings, LLC is an American multinational retail and nutritional manufacturing company based in Pittsburgh, Pennsylvania. It specializes in health and nutrition related products, including vitamins, supplements, minerals, herbs, sports nutrition, diet, and energy products.
Perrigo Company plc is an American Irish-registered manufacturer of private label over-the-counter pharmaceuticals, and while 70% of Perrigo's net sales are from the U.S. healthcare system, Perrigo is legally headquartered in Ireland for tax purposes, which accounts for 0.60% of net sales. In 2013, Perrigo completed the sixth-largest US corporate tax inversion in history when it reregistered its tax status to Ireland to avoid U.S. corporate taxes. Perrigo maintains its corporate headquarters in Grand Rapids, Michigan, within Michigan State University's Grand Rapids Innovation Park.
Lanxess AG is a German specialty chemicals company based in Cologne, Germany that was founded in 2004, via the spin-off of the chemicals division and parts of the polymers business from Bayer AG.
Asahi Kasei Corporation is a multinational Japanese chemical company. Its main products are chemicals and materials.
Chemtura Corporation was a global corporation headquartered in Philadelphia, Pennsylvania, with its other principal executive office in Middlebury, Connecticut. Merged into Lanxess in 2017, the company focused on specialty chemicals for various industrial sectors, and these were transportation, energy, and electronics. Chemtura operated manufacturing plants in 11 countries. Its primary markets were industrial manufacturing customers. The corporation employed approximately 2500 people for research, manufacturing, logistics, sales and administration. Operations were located in North America, Latin America, Europe and Asia. In addition, the company had significant joint ventures primarily in the United States. For the year ended December 31, 2015, the company's global core segment revenue was $1.61 billion. Chief executive officer was Craig A. Rogerson, who was also the president and chairman of the board of Chemtura Corporation. On April 21, 2017, Chemtura was acquired by the German chemical company Lanxess.
Mitsui & Co., Ltd. is one of the largest sogo shosha in Japan; it is part of the Mitsui Group.
Lonza Group AG is a Swiss multinational manufacturing company for the pharmaceutical, biotechnology and nutrition sectors, headquartered in Basel, with major facilities in Europe, North America and South Asia. Lonza was established under that name in the late 19th-century in Switzerland. The company provides product development services to the pharmaceutical and biologic industries, including custom manufacturing of biopharmaceuticals and detection systems and services for the bioscience sector.
The Lubrizol Corporation is an American provider of specialty chemicals for the transportation, industrial and consumer markets. These products include additives for engine oils and other transportation-related fluids, additives for industrial lubricants, and additives for gasoline and diesel fuel. In addition, Lubrizol makes ingredients and additives for personal care products, pharmaceuticals and medical devices, specialty materials, including plastics technology, and coatings in the form of specialty resins and additives.
Patheon is a service brand within Thermo Fisher Scientific’s brand portfolio. Contract development and manufacturing organization (CDMO) services offered under the Patheon brand include small molecule API, biologics, viral vectors, cGMP plasmids, formulation, clinical trials solutions, logistics and commercial manufacturing and packaging. In 2017, Patheon was acquired by Thermo Fisher Scientific to form its Pharma Services business.
Sun Pharmaceutical Industries Limited is an Indian multinational pharmaceutical company headquartered in Mumbai, that manufactures and sells pharmaceutical formulations and active pharmaceutical ingredients (APIs) in more than 100 countries across the globe. It is the largest pharmaceutical company in India and the fourth largest specialty generic pharmaceutical company in the world. The products cater to a vast range of therapeutic segments covering psychiatry, anti-infectives, neurology, cardiology, diabetology, gastroenterology, ophthalmology, nephrology, urology, dermatology, gynecology, respiratory, oncology, dental and nutritionals.
Ingredion Inc. is an American food and beverage ingredient provider based in Westchester, Illinois, producing mainly starches, non-GMO sweeteners, stevia, and pea protein. The company turns corn, tapioca, potatoes, plant-based stevia, grains, fruits, gums and other vegetables into ingredients for the food, beverage, brewing, and pharmaceutical industries and numerous industrial sectors. It has about 12,000 employees in 44 locations, and customers in excess of 120 countries.
Brenntag SE is the holding company of Brenntag Group. The company was founded in 1874 in Berlin and specializes in the distribution of chemicals and ingredients. The company is headquartered in Essen, Germany and has operations in more than 600 locations in 72 countries.
Jebsen & Jessen Group is a diversified industrial group with operation offices across South East Asia and beyond. It is a third generation family-owned enterprise and part of the Jebsen & Jessen Family Enterprise.
China National Chemical Corporation, commonly known as ChemChina, is a Chinese state-owned chemical company in the product segments of agrochemicals, rubber products, chemical materials and specialty chemicals, industrial equipment, and petrochemical processing for the civilian and military sectors. As of 2020, it is ranked 164th among the Fortune Global 500 companies.
Feike Sijbesma is a Dutch business executive who was CEO and chairman of the managing board of DSM from 2007 until 2020. And in 2022, he was nominated as honorary chairman. He helped the Dutch government from March to September 2020 as special voluntary corona envoy, especially focused on testing policy and availability. From mid 2020, Sijbesma focuses on several board positions and the African malnutrition issue and climate (adaptation).
New Chapter, Inc. is the American manufacturer of the New Chapter brand of vitamins and other organic dietary supplements. Based in Brattleboro, Vermont, the company is a Public Benefit Corporation (PBC) subsidiary of Procter & Gamble. The company's products include herbal supplements, probiotics, superfood greens and mushrooms.
{{cite book}}
: CS1 maint: multiple names: authors list (link){{cite web}}
: CS1 maint: multiple names: authors list (link)