MOSCOW (MRC) -- French chemicals group Arkema has announced an immediate price increase of 20% in selling prices for packaged and bulk grades for all Forane HFC products in Europe, effective immediately or as contracts allow, reported the company on its site.
Over the last few years, the European HFC business has been heavily affected by a continuous price decrease trend which has led to an unsustainable level of profitability for the whole value chain.
The chemical industry has a compulsory need to restore profitability in order to keep investing in the development of lower GWP alternatives which must be available in time to comply with the latest environmental and regulatory requirements.
Arkema’s Fluorochemicals business unit produces and markets a range of fluorinated gases under the Forane brand in the following markets worldwide: refrigerant fluids for refrigeration and air-conditioning, including commercial and industrial refrigeration, construction, automotive and other applications; blowing agents for polymer foams, specifically polyurethane and polystyrene; fFeedstock for the production of fluoropolymers; degreasing, cleaning and drying solvents; aerosol sprays.
As MRC informed before, Arkema announced the launch of a share capital increase with preferential subscription rights of shareholders for an amount of around EUR350 million, whose principle had initially been announced on 19 September 2014. This rights issue is part of the refinancing of the projected acquisition of Bostik.
Arkema is a leading European supplier of chlorochemicals and PVC. Kynar and Kynar Flex are registered trademarks of Arkema Inc.
MRC