DSM (company)

Overview

Royal DSM N.V.

type	Naamloze vennootschap
traded as	AEX component
isin	isin: NL0000009827
foundation	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	www.dsm.com
industry	Chemicals
revenue	€8.632 billion (2017) ‡R1R‡
operating income	€957 million (2017) ‡R1R‡
net income	€649 million (2017) ‡R1R‡
assets	€12.802 billion (2017) ‡R1R‡
equity	€7.065 billion (2017) ‡R1R‡
num employees	21,054 (2017) ‡R1R‡

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

Acquisitions

1998: Gist-brocades (food ingredients, pharmaceuticals, yeast- and enzyme-based production process technology).[8]

2000: Catalytica Pharmaceuticals (pharmaceutical intermediates).[9]

2003: Roche's vitamin division.[9]

2005: NeoResins (water-based coating resins).[9]

2011: Martek (nutritional products derived from microalgae and fermentation technology).[9][10]

2011: Vitatene (natural carotenoids derived from fermentation of Blakeslea trispora fungus).[11]

2012: Verenium's food enzymes and oilseed processing business.[12]

2012: Kensey Nash (biomedical regenerative medicine).[13]

2012: Ocean Nutrition Canada (fish-oil derived nutritional products).[14]

2012: Cargill's cultures and enzymes business.[15]

2012: Fortitech (customized nutrient premixes).[16]

2013: Unitech (micronutrient premixes and macronutrient blends).[17]

2013: Andre Pectin (food hydrocolloids).[18]

2013: Tortuga (nutritional supplements for pasture raised cattle).[19]

2015: Åland (vitamin C).[20]

2015: Cubic Tech (high-performance, ultra-lightweight, flexible laminates and fabrics).[21]

2020: Erber Group – Biomin and Romer Labs (mycotoxin and allergen tests in food).[22]

2020: Glycom (human milk oligosaccharides, infant formula supplement).[23]

2021: Amyris Flavor & Fragrance business.[24]

Partnerships

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.

2009: DSM and NCPC sign contracts to establish nutrition and anti-infectives joint ventures in China[36]

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).

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.[37] In 2021, DSM was ranked 6th on FoodTalks' list of Top 30 Global Probiotic Food Ingredient Companies.[38]

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