Arkema Finalizes the Divestment of Its Functional Polyolefins Business
June 02 2020 - 2:30AM
Business Wire
Regulatory News:
The sale of Arkema’s (Paris:AKE) Functional Polyolefins
business to SK Global Chemical was finalized on June 1st and is
fully in line with the strategy to refocus the Group’s activities
on Specialty Materials.
With sales of around €250 million, the Functional Polyolefins
business, which is part of the PMMA activity, comprises ethylene
copolymers and terpolymers for the food packaging, cable,
electronics and coatings markets. This business employs around one
hundred people in France and has an international sales network of
around thirty people who will now be joining SK Global Chemical, a
subsidiary of South-Korean group SK.
Based on an enterprise value of €335 million, this divestment is
fully in line with the Group’s strategy to become a pure player in
Specialty Materials by 2024 as presented on April 2, 2020, centered
around the three complementary and highly innovative segments of
Adhesive Solutions, Advanced Materials and Coating Solutions.
Building on its unique set of expertise in materials science,
Arkema offers a portfolio of first-class technologies to
address ever-growing demand for new and sustainable materials. With
the ambition to become in 2024 a pure player in Specialty
Materials, the Group is structured into 3 complementary, resilient
and highly innovative segments dedicated to Specialty Materials
-Adhesive solutions, Advanced Materials, and Coating Solutions-
accounting for some 80% of Group sales, and a well-positioned and
competitive Intermediates segment. Arkema offers cutting-edge
technological solutions to meet the challenges of, among other
things, new energies, access to water, recycling, urbanization and
mobility, and fosters a permanent dialogue with all its
stakeholders. The Group reported sales of €8.7 billion in 2019, and
operates in some 55 countries with 20,500 employees worldwide.
www.arkema.com
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version on businesswire.com: https://www.businesswire.com/news/home/20200601005660/en/
INVESTOR RELATIONS Béatrice Zilm +33 1 49 00 75 58
beatrice.zilm@arkema.com Arié Taïeb +33 1 49 00 72 07
arie.taieb@arkema.com Peter Farren +33 1 49 00 73 12
peter.farren@arkema.com Caroline Chung +33 1 49 00 74 37
caroline.chung@arkema.com
MEDIA Gilles Galinier +33 1 49 00 70 07
gilles.galinier@arkema.com Véronique Obrecht +33 1 49 00 88 41
veronique.obrecht@arkema.com
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