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Arkema declares force majeure on methyl acrylate in Europe

February 17/2021

MOSCOW (MRC) -- Arkema has declared force majeure on its sales of methyl acrylate (methyl-A) in Europe, said the company.

Arkema does not produce methyl-A in Europe, but provides it to customers via a combination of imports from the US and swap deals with other local producers.

However, imports from the US are currently restricted, and there are limitations on the amount of material available for swap deals because of feedstock issues, meaning Arkema is unable to fully meet its contractual obligations.

As per MRC, Trinseo is on track to acquire Arkema�s polymethyl methacrylate (PMMA) business. In December, Trinseo announced that it agreed to buy the business for EUR1.14bn. Arkema�s PMMA business has consistently delivered good margins and cash flow, and it also serves many of Trinseo�s end markets. CEO Frank Bozich said that the acquisition of Arkema�s acrylics business is part of Trinseo�s strategy to grow the business in areas with higher margins and less cyclicality.

We remind that Russia"s output of chemical products rose in November 2020 by 9.5% year on year. At the same time, production of basic chemicals increased in the first eleven months of 2020 by 6.6% year on year, according to Rosstat"s data. According to the Federal State Statistics Service of the Russian Federation, polymers in primary form accounted for the greatest increase in the January-November 2020 output. November production of polymers in primary form rose to 896,000 tonnes from 852,000 tonnes in October. Overall output of polymers in primary form totalled 9,240,000 tonnes over the stated period, up by 17.1%  year on year.
Author:Anna Larionova
Tags:acryl, akrilonitril-stirol-akrilat (ASA), petroleum products, Arkema, France.
Category:General News
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