COLOMBES, France--(BUSINESS WIRE)--Regulatory News:
Arkema (Paris:AKE) announces an investment plan to increase by 25% its capacity of polyamide 12 polymers, commercialized under the trademark Rilsamid®. This new capacity will be added at Arkema’s Changshu platform in China and is expected to come on stream by mid-2020. With this latest investment plan, Arkema continues to reinforce its specialty polyamide business in all three major global regions – Europe, North America and now Asia.
This investment which represents several tens of millions of euros, will support the strong demand in growth applications such as cable protection, lightweighting (metal replacement) in automobiles, improved high performance sports shoes (running, soccer, etc.) and evolving applications in the consumer electronics segment. The mid-term growth rates in these applications are expected to exceed 7% per year in Asia.
With this latest project, the specialty polyamides business will continue to bolster its industrial, commercial and R&D presence in Asia, and confirms its commitment to supply its global customers locally.
“This project announcement is the latest of several major investments in specialty polyamides in Asia to support the momentum of our advanced materials offer in the region” said Julie Zhang, Regional President of Arkema’s Technical Polymers business in Asia. “It’s energizing for our customers to see how quickly we are evolving into a local sourcing supplier, into a world-class manufacturing presence in Asia with R&D and service to match.”
This project is complementary to our recent project announcement in the bio-based polyamide 11 chain (monomer and polymer) and is consistent with the Group’s ambitious strategy to significantly step up the development of its advanced materials, which should eventually account for over 25% of sales by 2023, while continuing to further consolidate its presence in Asia.
A designer of materials and innovative solutions, Arkema shapes materials and creates new uses that accelerate customer performance. Our balanced business portfolio spans high-performance materials, industrial specialties and coating solutions. Our globally recognized brands are ranked among the leaders in the markets we serve. Reporting annual sales of €7.5 billion in 2016, we employ approximately 20,000 people worldwide and operate in close to 50 countries. We are committed to active engagement with all our stakeholders. Our research centers in North America, France and Asia concentrate on advances in bio-based products, new energies, water management, electronic solutions, lightweight materials and design, home efficiency and insulation. www.arkema.com
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A French société anonyme (limited company) with share capital of €757,179,470 – Registered in Nanterre: RCS 445 074 685