Arkema announced a project to acquire the Coatings Resins (Cray Valley and Cook Composite Polymers) and Photocure Resins (Sartomer) businesses of Total’s Specialty Chemicals activities for a €550M enterprise value. Fully in line with its strategy to bolster its specialty product activities, this project would establish Arkema as a leader in the global coatings resins market. It would further increase the downstream integration of its acrylics chain, while offering major potential for growth and synergies.
The businesses concerned by the project comprise the coatings resins (paints, adhesives, etc.) of Cray Valley (Europe, Asia, South Africa) and Cook Composite Polymers (U.S.), as well as the photocure resins of Sartomer (Europe, U.S., Asia). These make up a coherent group of specialty products used in the high value-added paints and industrial coatings markets.
By acquiring Sartomer, Arkema would become the world’s co-leader in the photocure resins market. As high value-added technical products in the downstream acrylics sector, these resins offer a significant growth potential in a wide range of markets (graphic arts, optics, electronics, etc.). The deal should be closed in the first half of 2011.