MOSCOW (MRC) -- Bostik, part of Arkema, has recently completed the acquisition of LIP Bygningsartikler AS (LIP), the Danish leader in tile adhesives, waterproofing systems and floor preparation solutions, according to Arkema's press release.
Thus, this acquisition, which was completed on 3 January 2020 and which was like the Prochimir acquisition finalized in October 2019, is in line with Arkema’s strategy to continuously grow its Adhesives business through bolt-on acquisitions which complement Bostik’s geographic presence, product ranges and technologies.
As MRC informed previously, Arkema has recently announced the proposed divestment of its Functional Polyolefins business to SK Global Chemical, a subsidiary of SK, the major South Korean corporation. The proposed disposal, which is subject to an information and consultation process involving Arkema’s employee representative bodies and to the approval of the relevant antitrust authorities, is expected to be finalized in second quarter 2020. With this project, Arkema continues its shift towards specialty chemicals and advanced materials.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,904,410 tonnes in the first eleven months of 2019, up by 6% year on year. Shipments of all PE grades increased. PE shipments increased from both domestic producers and foreign suppliers. The PP consumption in the Russian market was 1,161,830 tonnes in January-November 2019, up by 7% year on year. Deliveries of all grades of propylene polymers increased, with the homopolymer PP segment accounting for the largest increase.
Arkema is a global manufacturer in specialty chemicals and advanced materials, with 3 business segments - High Performance Materials, Industrial Specialties, and Coating Solutions - and globally recognized brands. The Group reports annual sales of EUR8.8 billion. Buoyed by the collective energy of its 20,000 employees, Arkema operates in close to 55 countries.
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