Announced last December, Arkema’s acquisition from Total of coatings resins from both Cray Valley and Cook Composites and Polymers, and the photocure resins of Sartomer, has been approved by the anti-trust authorities in all countries concerned and is now final.
Arkema welcomes these new businesses, which complement its offering to the coatings market and strengthen the downstream integration of its acrylics business. Representing sales of €850 million and almost 1,750 employees at some 20 sites on four continents, these new activities enable Arkema to become one of the world’s leaders in the materials market for coatings and paints.
Arkema will benefit in particular from new growth engines in Asia with Cray Valley sites in India and Malaysia, and a newly-opened Sartomer site in Nansha, south of Guangzhou in China.
“The acquisition of Total’s specialty resins is a new major step in Arkema’s development. These activities will allow Arkema to boost its positions in its markets, making the Group one of the leading suppliers to the paint and coating industry with a global offering in terms of technologies and worldwide coverage,” said Thierry Le Hénaff, Arkema chairman and CEO.
The Cray Valley and Cook Composites and Polymers resins will join the Emulsion Systems business unit as part of a new structure named Arkema Coating Resins. Meanwhile, the Sartomer activities (photocure resins) will make up a new business unit.
Both business units will be part of the Industrial Chemicals segment, with decision centers based in the U.S.