US $ 240 Million Project Arkema Buys Acrylic Acid Production Assets in China
Arkema is on shopping spree in Asia: The French based petrochemical and specialties company has acquired 160,000 tons/year acrylic acid production capacity in Asia for around US $ 240 million. These acquisitions nevertheless are only the first stage of Arkema's growth plans.
Taixing/PR China – Further, Arkema has finalized the creation of Sunke, a joint venture with Jurong Chemical, in which the French have a majority interest, and which consists in particular of two acrylic acid production lines each amounting to 160,000 t/year located on the Taixing site in China. With the closing of this first stage, Arkema has access to half of the site’s installed production. Jurong Chemical is the world’s 5th largest producer of acrylic acid and the acrylics leader in China. It is a subsidiary of Sunvic, a company listed on the Singapore stock market.
”This new site will enable us to meet our customers’ growing demand for acrylic acid and esters in China and in Asia, and to support the growth of our Coating Solutions segment in this region of the world. The successful integration of these new assets will be a priority for the Group and its personnel over the next few months”, stated Marc Schuller, member of Arkema’s Executive Committee.
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