MOSCOW (MRC) -- Arkema has completed the sale to INEOS of its 50% stake in Oxochimie, their oxo alcohols manufacturing joint venture, and of the associated business, said the producer on its site.
The impact of this divestment on the group’s annual sales will represent some EUR40 million. With this operation, Arkema continues to implement its divestment program.
As MRC reported before, in late January 2017, Arkema announced a project for the sale to INEOS of its 50% stake in Oxochimie. Arkema produced oxo alcohols on the Lavera site (France) in a 50/50 manufacturing joint venture with INEOS. These products were used in part for the production of the group’s acrylic esters in Europe.
We also remind that on 2 February 2015, Arkema finalized the acquisition of Bostik, the world's No. 3 in adhesives. With this acquisition, the group reached a new milestone in its development, and confirmed its ambition to become a world leader in specialty chemicals and advanced materials. Bostik's growth prospects and the complementarities identified between the two groups will sustain the success of this high value creating project.
Arkema is a leading European supplier of chlorochemicals and PVC. Kynar and Kynar Flex are registered trademarks of Arkema Inc.