HEERLEN, NETHERLANDS (July 12, 1 p.m. ET) — Royal DSM NV has acquired a 51 percent stake in AGI Corp. of Taiwan (AGI), a supplier of environmentally friendly UV curable resins and other products.
Heerlen-based DSM paid 41 million euros ($57.4 million) for the AGI shares. DSM had announced plans to buy the stake in December.
AGI's products are used in coatings and inks for wood, flooring, plastic and graphic arts applications.
AGI reported net sales in 2010 of approximately US$140 million. In a news release, DSM said the deal will allow it to expand its footprint in the sustainable resins market.