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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 company’s 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. |
