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Bostik of Arkema to acquire decorative flooring technologies firm in Italy

September 25/2020

MOSCOW (MRC) -- Arkema says its adhesives subsidiary Bostik plans to acquire Ideal Work (Treviso, Italy), a decorative flooring technologies company, reported Chemweek.

The transaction is in line with Arkemas growth strategy in adhesives and complements Bostiks range of flooring products for the construction market, the company says. The deal is expected to close in the fourth quarter of 2020.

The acquisition is also consistent with Arkema and Bostiks CSR ambition, notably due to Ideal Work's micro-cement technology that uses solvent-free products or products with low volatile organic compound emissions, as well as recycled materials, the company says.

Ideal Work has annual sales of about EUR10.0 million (USD11.7 million) and employs 25 people, Arkema says.

As MRC informed previously, earlier this month, Arkema announced the start-up of a new world-scale industrial adhesives plant in Japan. Those new capacities will enable Bostik to serve its Japanese customers in the continuously growing markets of diapers, hygiene, packaging, labelling, transportation and electronics, said the company. This investment is in line with Bostiks growth and geographical expansion strategy. 

We remind that Arkema said in June, 2020, that it has finalized the divestment of its functional polyolefins business to SK Global Chemical. The divestment was announced last year. Arkema says the sale forms part of its strategy to refocus the groups activities on specialty materials.

According to MRC's ScanPlast report, Russia's overall PE production totalled 1,712,400 tonnes in the first seven months of 2020, up by 58% year on year. Linear low density polyethylene (LLDPE) accounted for the greatest increase in the output. At the same time, overall PP production in Russia increased in January-July 2020 by 24% year on year to 1,063,700 tonne. ZapSibNeftekhim accounted for the main increase in the output.

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.
Author:Margaret Volkova
Tags:PP, PE, compounding, flooring, recikling, adhesives, packaging, electrical goods, personal hygiene products, Arkema, Bostik, SK Corporation, Italy, Russia, South Korea, Japan.
Category:General News
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