DSM Elastomers sale still progressing

Geleen, Netherlands -- Jan Paul de Vries, president of DSM Elastomers said the sale of his company is still progressing. He noted that the headline on a previous ERJ  story that the process is "on hold" may have been misleading.

De Vries acknowledged that the sale process is progressing more slowly than originally anticipated, due to the increased management effort spent addressing the current economic crisis, but he said that negotiations with more than one partner are still active and still progressing.

He expected the sale would close before the end of 2010 as set out in the original documents presented by DSM group.