COLOMBES, France--(BUSINESS WIRE)--Regulatory News:
The divestment of Arkema’s (Paris:AKE) PMMA business to Trinseo, fully in line with the Group’s ambition to become a pure Specialty Materials player by 2024, was finalized today.
Following the announcement made on December 14th, Arkema’s and Trinseo’s teams have carried out all the steps leading to the closing of the transaction.
The divested business, which employs some 860 people and operates 7 production sites (4 in Europe and 3 in North America), will thus be joining Trinseo, a company specialized in the production of plastics, synthetic rubber and latex binders.
The net proceeds of the divestment, based on an enterprise value of €1,137 million, will take into account a capital gains tax estimated at around 15% of this amount.
The Group thus takes another major step in its transformation, with the ambition to become a pure player in sustainable and innovative Specialty Materials by 2024, focused on the three complementary segments of Adhesive Solutions, Advanced Materials and Coating Solutions.
Building on its unique set of expertise in materials science, Arkema offers a portfolio of first-class technologies to address ever-growing demand for new and sustainable materials. With the ambition to become in 2024 a pure player in Specialty Materials, the Group is structured into 3 complementary, resilient and highly innovative segments dedicated to Specialty Materials -Adhesive solutions, Advanced Materials, and Coating Solutions- accounting for some 82% of Group sales, and a well-positioned and competitive Intermediates segment. Arkema offers cutting-edge technological solutions to meet the challenges of, among other things, new energies, access to water, recycling, urbanization and mobility, and fosters a permanent dialogue with all its stakeholders. The Group reported sales of around €8 billion in 2020, and operates in some 55 countries with 20,600 employees worldwide. www.arkema.com