Arkema completes photocure, coatings-resins acquisition from Total

01 July 2011 16:00  [Source: ICIS news]

LONDON (ICIS)--Arkema has completed the acquisition of Total’s photocure and coatings resins businesses, the French specialty chemicals company said on Friday.

The deal includes the Cray Valley and Cook Composites and Polymers (CPP) operations, as well as the photocure resins of Sartomer, representing sales of €850m ($1,232m) and employing almost 1,750 people worldwide.

“The acquisition of Total’s specialty resins is a new major step in Arkema’s development,” said CEO Thierry Le Henaff.

“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,” Le Henaff added.

Arkema said the acquisition had been approved by antitrust authorities in all the relevant countries, and was now final.

French oil major Total announced in December 2010 that it would sell the businesses to Arkema for an enterprise value of €550m.

For more on Arkema visit ICIS company intelligence

By: Graeme Paterson
+44 20 8652 3214

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