Arkema announces the proposed divestment of its epoxides business to Cargill, a leader in agricultural products and services. With this project, Arkema is pursuing the repositioning of its portfolio on its core businesses.
Arkema (Paris:AKE) produces bio-based and specialty epoxides in Blooming Prairie (MN, USA), used as additives or intermediates in the manufacture of lubricants, plastic additives and a wide variety of other applications. Part of Arkema’s Hydrogen Peroxide activity, this business has limited integration with the rest of the Group’s portfolio, generates sales of around US $40 million and employs approximately 45 people.
By joining Cargill, a global player in bio-based-products, this business of high quality products will benefit from the size and the development strategy of this US Group that will offer new growth potential in the industrial markets.
The offer received values this activity at US $38.8 million, which is around 10 times historical EBITDA.
The deal is expected to close in the fourth quarter of 2021.
Building on its unique set of expertise in materials science, Arkemaoffers 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 in 2020, 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
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