Arkema has finalized the sale of its functional polyolefins business to SK Global Chemical on 1 June 2020. The divestment is fully in line with the strategy to refocus the group’s activities on specialty materials by 2024 as presented on 2 April 2020, centered around the three complementary and highly innovative segments of adhesive Solutions, advanced Materials and coating Solutions.
Functional Polyolefins Business Part of PMMA Activity
The functional polyolefins business had sales of around €250 million, part of the polymethyl methacrylate (PMMA) activity, comprising of ethylene copolymers and terpolymers for food packaging, cable, electronics and coatings markets.
The 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. The functional polyolefins business has an enterprise value of €335 million.
Source: Arkema