France’s Arkema sells US performance medical polymers unit

06 June 2011 16:48  [Source: ICIS news]

LONDON (ICIS)--Arkema has sold the polyether ketone ketone medical business that it acquired from US-based Oxford Performance Materials in 2009 to focus on its polyether ketone ketone industrial business, the French specialty chemicals company said on Monday.

Arkema sold the high-performance polymers medical business to Scott DeFelice and Severine Zygmont, the original founders of Oxford Performance Materials, for an undisclosed sum, it said.

With the polyether ketone ketone industrial business, Arkema said it will concentrate its development efforts on the key application sectors of aerospace and down-hole equipment for the oil and gas industries.

DeFelice said Arkema’s global resources and capabilities are more suitable to take the polyether ketone ketone industrial business to the next level, while the medical business is more suitable “for a small, nimble organisation”.

In 2009, Arkema acquired Oxford Performance Materials for an undisclosed price.

For more on Arkema visit ICIS company intelligence

By: Tanzeel Akhtar
+44 208 652 3214

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