05 July 2011
05 July 2011
Arkema’s acquisition from Total of coatings resins from both Cray Valley and Cook Composites and Polymers, and the photocure resins of Sartomer has been approved by the antitrust authorities in all countries concerned and is now final.
Arkema said it is pleased to welcome the new businesses, which complement its offering to the coatings market and strengthen the downstream integration of its acrylics business. Representing sales of €850 million, these new activities enable Arkema to become one of the world’s leaders in the materials market for coatings and paints.
Arkema explain the purchased assets represent sales of €850M, with almost 1,750 employees at some twenty sites on four continents, and they will benefit in particular from new growth engines in Asia with Cray Valley sites in India and Malaysia, and a newly opened Sartomer site in Nansha, south of Guangzhou in China.
“The acquisition of Total’s specialty resins is a new major step in Arkema’s development. These activities will allow Arkema to boost its positions in its markets, making the Group one of the leading suppliers to the paint and coating industry with a global offering in terms of technologies and worldwide coverage”, states Thierry Le Hénaff, Arkema Chairman and Chief Executive Officer.
The acquisition integrates well with the specialty polymers downstream from Arkema’s acrylics business, as did the acrylic polymers acquired with Coatex in 2007 and the emulsions acquired from Dow in the US at the beginning of 2010.
The Cray Valley Coatings business and Cook Composites and Polymers resins will join the Emulsion Systems business unit as part of a new structure named Arkema Coating Resins, while the Sartomer activities (photocure resins) will make up a new business unit.
Both business units will be part of the Industrial Chemicals segment, with decision centres based in the United States.