MOSCOW (MRC) -- Arkema has announced the proposed acquisition by the Bostik-Nitta joint-venture of the industrial adhesives of Nitta-Gelatin Inc., as well as the construction of a new world-scale adhesives plant in Japan, as per the company's press release.
These operations will enable Bostik (part of Arkema) to supply its Japanese customers in the buoyant nonwoven markets for hygiene applications and in the packaging, labelling, transportation and electronics industrial markets.
The Bostik-Nitta JV, majority-owned by Bostik, will strengthen its adhesives business in the Japanese market.
This acquisition, representing sales of some EUR30 million, will help step up the development of these activities in fast-growing markets such as electronics and automotive. The acquisition is due to be completed this summer subject to approval by anti-trust authorities.
The Bostik-Nitta JV will also invest in the construction of a new world-scale plant that will include several production lines dedicated on the one hand to adhesives for the nonwoven market for hygiene applications, and on the other to the industrial adhesives markets.
The new facility, to be located in Nara, Japan, should come on stream early 2020. It will enable the Bostik-Nitta JV to support the strong growth of its customers in the Japanese hygiene market and to reinforce the production of some industrial adhesives product lines.
With this operation, Arkema is actively pursuing its strategy to develop its adhesives, which represent one of the major drivers of its long-term growth.
As MRC informed before, in March 2017, Arkema completed the sale to INEOS of its 50% stake in Oxochimie, their oxo alcohols manufacturing joint venture, and of the associated business.
Arkema is a leading European supplier of chlorochemicals and PVC. Kynar and Kynar Flex are registered trademarks of Arkema Inc.