23 November 2011 11:13 [Source: ICIS news]
LONDON (ICIS)--Arkema plans to sell its vinyl business to Switzerland-based investment group Klesch so it can focus on its industrial chemicals and performance products segments, the French chemical major said on Wednesday.
“This project is based on our firm belief that our specialty activities require today a differentiated strategy for each of these activities,” said CEO Thierry Le Henaff.
"By refocusing on its specialty activities, namely Industrial Chemicals and Performance Products, Arkema would continue to implement its growth strategy in innovative solutions dedicated to sustainable development and in emerging economies," he added.
Earlier on Wednesday, Arkema suspended trading of its shares ahead of the announcement about its vinyl business.
Financial details about the divestment were not disclosed.
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