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Arkema sends out teaser documents for PMMA business

June 23/2020

MOSCOW (MRC) -- Arkema has kicked off the sale of its plexiglass polymethyl methacrylate (PMMA) business, which could raise about EUR1 billion (USD1.1 billion), Bloomberg reports citing people familiar with the matter, as per Chemweek.

Arkema CEO Thierry Le Henaff on 2 April announced the potential divestment of its methyl methacrylate (MMA) and PMMA business as part of the companys ambition to become a world leader in specialty materials realigned around adhesive solutions, advanced materials, and coating solutions. Le Henaff said at that time that the best option for MMA and PMMA would be to divest the business, which in 2019 reported sales of EUR600 million.
 
Bloomberg says Arkema has sent potential bidders teaser documents with an overview of the Altuglas International division. The sale is attracting initial interest from private equity firms including Advent International, Rhone, SK Capital Partners and Triton Partners, Bloomberg says, adding that Arkema has not decided when to seek first-round bids and could wait until after the summer to formally solicit offers.

As MRC informed earlier, in October 2019, Arkema successfully brought on stream a new 90,000-ton acrylic acid reactor at its Clear Lake, Texas site to support the growth of its North American customers in the superabsorbents, paints, adhesives and water treatment markets.

As MRC informed earlier, Russia's output of products from polymers grew in April 2020 by 11.2% year on year due to quarantine restrictions. However, this figure increased by 3.4% year on year in the first four months of 2020.  According to the Russian Federal State Statistics Service, April production of unreinforced and non-combined films decreased to 107,000 tonnes from 110,400 tonnes a month earlier. Output of films products grew in the first four months of 2020 by 12.5% year on year to 402,800 tonnes.

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.


mrcplast.com
Author:Anna Larionova
Tags:petroleum products, masterbatchi, petrochemistry, Arkema.
Category:General News
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