Arkema acquisition from Total of coatings resins from both Cray Valley and Cook Composites and Polymers, and the photocure resins of Sartomer has now been approved by antitrust authorities in all countries concerned.
The new businesses purchased by Arkema will complement its offering to the coatings market and strengthen the acrylics business. Representing sales of €850 million.
This acquisition is in line with Arkema’s growth strategy. The purchased assets represent sales of €850 million, with almost 1,750 employees at some twenty sites on four continents. Arkema will benefit in particular from new growth in Asia with Cray Valley sites in India and Malaysia, and a newly opened Sartomer site in Nansha, south of Guangzhou in China.
The acquisition of Total’s speciality resins will allow Arkema to boost its positions in its markets, making the Group one of the leading suppliers to the paint and coating industry with a global offering in terms of technologies and worldwide coverage
states Thierry Le Hénaff, Arkema Chairman and Chief Executive Officer.
The Cray Valley and Cook Composites and Polymers resins (waterborne and solvent-based, powder, rheology additives) and the Sartomer high added value photocure resins (for fiber optics, graphic arts, electronics, etc.) enhance Arkema’s product portfolio for coatings applications, which includes waterborne polymer emulsions, Kynar PVDF resins, Coatex rheology additives, and Rilsan and Orgasol fine powders.
The Cray Valley and Cook Composites and Polymers resins will join the Emulsion Systems business unit as part of a new structure named Arkema Coating Resins, while the Sartomer activities (photocure resins) will make up a new business unit.
Both business units will be part of the Industrial Chemicals segment, with decision centers based in the United States.