Mergers & Acquisitions Arkema Finalises Acquisition of Chinese Companies
French chemical company Arkema acquires two Chinese specialist companies for bio based polymers. Chairman Le Hénaff now sees Arkema uniquely positioned for future growth as the only manufacturer offering the full range of polymamides.
Colombes Cedex/France – Arkema takes big steps on the Asian market by acquiring to Chinese specialist companies: Hipro Polymers, a producer of specialty biosourced polyamides and Casda Biomaterials, the world’s leading producer of sebacic acid processed from castor oil.
“This acquisition represents a large development potential for Arkema. It offers significant growth drivers for our high-tech polyamides, and will help us become the only chemical manufacturer in the world to offer the full range of polyamides 10, 11 and 12. Positioned in the green chemistry sector, this acquisition of companies in China fits in well with the growth strategy conducted by the Group in the last 5 years,” commented Thierry Le Hénaff, Arkema Chairman and CEO.
The acquisition of Hipro Polymers and its production facility near Shanghai strengthens Arkema's position in specialty biosourced polyamides, company speakers believe. The French company now wants to market Hipro's bio–polyamides for industries such as transportation, renewable energies, and electronics. Casda Biomaterial expands Arkema's portfolio with a world scale production of sebacic acid, an important raw material for PA10.10.