MOSCOW (MRC) -- Arkema, a France-based chemical manufacturer, has finalized the first stage of its acrylics assets acquisition project in Taixing, China, and now has access to a modern and competitive 160,000 t/year acrylic acid production capacity in Asia for the sum of USD 240 million, as per the company's statement.
This investment will enable the group to serve its customers in China and in Asia in growing markets such as superabsorbents, paints, adhesives and water treatment.
Arkema has finalized the creation of Sunke, a joint venture with Jurong Chemical, in which Arkema has a majority interest, and which consists in particular of two acrylic acid production lines each amounting to 160,000 t/year located on the Taixing site in China. With the closing of this first stage, Arkema has access to half of the site’s installed production.
"This new site will enable us to meet our customers’ growing demand for acrylic acid and esters in China and in Asia, and to support the growth of our Coating Solutions segment in this region of the world. The successful integration of these new assets will be a priority for the Group and its personnel over the next few months", stated Marc Schuller, member of Arkema’s Executive Committee.
As MRC wrote before, in April 2014, Arkema announced that it had developed two new grades - Luperox organic peroxides and Kynar Flex PVDF resins -specifically designed for electric and electronic wires and cables applications.
Jurong Chemical is the world’s 5th largest producer of acrylic acid and the acrylics leader in China.
Arkema is a leading European supplier of chlorochemicals and PVC. Kynar and Kynar Flex are registered trademarks of Arkema Inc. Arkema operates 11 organic peroxide plants on the three continents. With operations in more than 40 countries, some 14,000 employees and 10 research centers, Arkema generates annual revenue of some EUR6.1 billion, and holds leadership positions in all its markets with a portfolio of internationally recognized brands.
MRC