Paris -- 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 antitrust authorities in all countries concerned and is now final, the company announced 1 July.
Arkema says these units complement its offering to the coatings market and strengthen the downstream integration of its acrylics business. The businesses represent sales of Euro 850 million ($1185 million) and "enable Arkema to become one of the world's leaders in the materials market for coatings and paints," the company added.
The purchased unit employ about 1750 people at some 20 sites on four continents. Arkema said it will benefit in particular from growth 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, in the company statement.
The Cray Valley and Cook Composites and Polymers resins (waterborne and solvent-based, powder, rheology additives) and the Sartomer photocure resins (for fibre optics, graphic arts and electronics) enhance Arkema's product portfolio for coatings applications, which includes waterborne polymer emulsions, Kynar PVDF resins, Coatex rheology additives, and Rilsan and Orgasol fine powders.
In the polyurethanes sector, both Cray Valley and Sartomer offer hydroxy-terminated polybutadienes, used to make high-performance urethane materials for coatings, adhesives, sealants and encapsulants.
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, while 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 centres based in the US.