Arkema Completes Acquisition of Total’s Coatings Resins and Photocure Resins
PARIS - Announced last December, Arkema’s acquisition from Total of coatings resins from both Cray Valley and Cook Composites and Polymers and the photocure resins of Sartomer has been approved by the antitrust authorities in all countries concerned and is now final. The new businesses complement Arkema’s offering to the coatings market and strengthen the downstream integration of its acrylics business. Representing sales of EUR 850 million, these new activities enable Arkema to become one of the world’s leaders in the materials market for coatings and paints.
Arkema will benefit in particular from new growth engines 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 specialty resins is a new major step in Arkema’s development. These activities 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,” said Thierry Le Hénaff, Arkema Chairman and Chief Executive Officer.
The Cray Valley and Cook Composites and Polymers resins and the Sartomer high-added-value photocure resins 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.
Capitalizing on synergies between its existing R&D centers and the assets acquired from Total, Arkema will assist its global customers in their search for innovative and environmentally sound formulations that comply with local regulations. Finally, this acquisition integrates well with the specialty polymers downstream from Arkema’s acrylics business, as did the acrylic polymers acquired with Coatex in 2007 and the emulsions acquired from Dow in the United States at the beginning of 2010.
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.