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DSM-Firmenich merger done

DSM and Firmenich have completed their merger and will henceforth operate under the name of DSM-Firmenich. The new company will have about 30,000 employees and will operate in four divisions:

Perfumery & Beauty

* Taste, Texture & Health

* Health, Nutrition & Care

* Animal Nutrition & Health

SBTi validates three firms’ climate targets

The Science Based Target initiative (SBTi), a collaboration between the United Nations Global Compact, World Resources Institute, the Climate Disclosure Project and the World Wide Fund for Nature (WWF) to drive corporate climate action, has validated the latest greenhouse gas reduction (GHG) targets of three chemical companies as both science-based and aligned with the UN Paris Agreement to limit the global temperature rise to no more than 1.5ºC this century.

DSM and Firmenich in mega-merger

DSM and Swiss-based flavours and fragrances house Firmenich have agreed to merge. The deal, which is expected to close in 1H 2023, is valued at about $19.6 billion. DSM-Firmenich would have about €11.4 billion/year in sales, comparable to IFF after its combination with DuPont’s Nutrition and Biosciences business early last year.

Chemical companies collaborate on low-carbon initiative

Ten major global chemical sector companies have agreed with the World Economic Forum (WEF) to establish what they called “a breakthrough, pre-competitive development platform to accelerate net-zero climate technologies”. They are BASF, Dow, DSM, Solvay, Clariant, Covestro, Mitsubishi Chemical, Air Liquide, Sabic and Sibur.

DSM buys Amyris F&F ingredients

DSM has agreed to acquire the biobased flavour and fragrance (F&F) intermediates business of synthetic biotechnology company Amyris. This comprises seven products, of which four are “already generating meaningful sales”, two newly launched and one under development. They will be added to the DSM’s Personal Care & Aroma Ingredients activities, extending its offer to the F&F and cosmetics industries.

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