Japan: Industrial Adhesives Arkema to Acquire Bostik-Nitta JV from Partner Nitta-Gelatin
With this deal, Arkema aims to strengthen its adhesives business in the Japanese market. To expand further, it also plans to construct a new adhesives plant in the region.
Nara/Japan – Arkema has announced the proposed acquisition by the Bostik-Nitta joint-venture of the industrial adhesives of Nitta-Gelatin as well as the construction of a new world-scale adhesives plant in Japan. These operations will enable Bostik to supply its Japanese customers in the buoyant nonwoven markets for hygiene applications and in the packaging, labelling, transportation and electronics industrial markets.
The Bostik-Nitta JV, majority-owned by Bostik, will strengthen its adhesives business in the Japanese market with two projects: The proposed acquisition by the Bostik-Nitta JV of Nitta-Gelatin’s industrial adhesives and the construction by the Bostik-Nitta JV of a new adhesives plant in Nara.
The proposed acquisition by the Bostik-Nitta JV of Nitta-Gelatin’s industrial adhesives
This acquisition, representing sales of some 35 million dollars, will help step up the development of these activities in fast-growing markets such as electronics and automotive. The acquisition is due to be completed this summer subject to approval by anti-trust authorities.
The construction by the Bostik-Nitta JV of a new adhesives plant in Nara
The Bostik-Nitta JV will also invest in the construction of a new world-scale plant that will include several production lines dedicated on the one hand to adhesives for the nonwoven market for hygiene applications, and on the other to the industrial adhesives markets. The new facility, to be located in Nara, Japan, should come on stream early 2020. It will enable the Bostik-Nitta JV to support the strong growth of its customers in the Japanese hygiene market and to reinforce the production of some industrial adhesives product lines.
With this operation, Arkema is actively pursuing its strategy to develop its adhesives, which represent one of the major drivers of its long-term growth.