Divestment Arkema Sells Functional Polyolefins Business to SK Global Chemical
The deal between Arkema and SK Global Chemical was finalised on June 1 and the divestment is in line with the company’s strategy to refocus and strengthen its Specialty Materials business by 2024.
France – With sales of around 280 million dollars, the Functional Polyolefins business, which is part of the PMMA activity, comprises ethylene copolymers and terpolymers for the food packaging, cable, electronics and coatings markets. This 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, a subsidiary of South-Korean group SK.
Based on an enterprise value of 376 million dollars, this divestment is fully in line with the Group’s strategy to become a pure player in Specialty Materials by 2024, centered around the three complementary and highly innovative segments of Adhesive Solutions, Advanced Materials and Coating Solutions.