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Arkema acquires Ashlandís performance adhesives

September 01/2021

MOSCOW (MRC) -- Arkema is acquiring US-based Ashland's performance adhesives business in an all-cash USD1.65bn deal, said the company. 

The transaction is expected to close by the end of this year. An agreement was signed today for the acquisition of Ashlandís Performance Adhesives business, a first-class leader in high performance adhesives for industrial applications in the United States with a unique and innovative product portfolio. This project is perfectly aligned with the Groupís ambition to become a pure Specialty Materials player by 2024.

"Following the recent divestment of PMMA and the start of the strategic review of Fluorogases, the acquisition of Ashlandís adhesives business is a fantastic opportunity to reinforce the Groupís presence in the US and to accelerate Bostikís growth," the company said.

With estimated sales of around $360m and an estimated earnings before interest, tax, depreciation and amortisation (EBITDA) at around $95m in 2021, Ashland offers a portfolio of high performance adhesive solutions in high-value-added industrial applications, Arkema said.

Ashlandís Performance Adhesives business employs about 330 people and operates six production plants, mainly in north America.

As per MRC, Trinseo completed the EUR1.14 billion acquisition of Arkema's PMMA business in May. The EUR1.14 billion deal was announced in December and was expected to be completed by mid-2021. The company has seven PMMA plants, four in Europe and three in North America. Products are marketed under the Plexiglas brands in the Americas and Altuglas in the rest of the world. PMMA Manufacturing Arkema is an integrated business from methyl methacrylate (MMA) to PMMA, marketed under the Plexiglas brands in the Americas and Altuglas in the rest of the world.

The main sector consuming approximately 75% of MMA is the production of polymethyl methacrylate acrylic plastics (PMMA). Methyl methacrylate is also used to produce methyl methacrylate-butadiene-styrene copolymer (MBS), used as a modifier for polyvinyl chloride (PVC).

According to MRC's DataScope report, last month"s SPVC imports to Russia grew to 8,700 tonnes from 5,000 tonnes in June. Good seasonal demand and shutdowns for maintenance at two major Russian plants led to a surge in imports in July. Overall imports totalled 28,700 tonnes in the first seven months of 2021, compared to 27,900 tonnes a year earlier, with resin from China accounting for the main increase in imports.

Arkema is one of the world's leading chemical manufacturers headquartered in Colombes (near Paris, France). Founded in 2004 as a result of the restructuring of the French oil company Total, Arkema, with a turnover of EUR6.5 billion, has operations in 40 countries, 10 research centers around the world, and 85 plants in Europe, North America and Asia.


mrcplast.com
Author:Anna Larionova
Tags:PVC, compounding, compounds, petrochemistry, coatings, Arkema, Ashland Italia, Trinseo (Styron).
Category:General News
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