26 April 2012 16:00 [Source: ICIS news]
LONDON (ICIS)--Moody's Investors Service on Thursday upgraded its outlook for Arkema to “positive” from “stable” on expectations that the French specialty chemical producer will continue to execute its growth strategy.
Moody’s positive outlook reflects an improvement in Arkema’s business profile, following the acquisition of Total’s photocure and coatings resins businesses in 2011, the acquisition of Chinese companies Hipro Polymers and Casda Biomaterials in 2012.
It also takes into account the pending sale of its vinyl business to Switzerland-based investment group Klesch, in order to focus on its industrial chemicals and performance products segments.
“The positive outlook reflects the expectation that the company will continue to execute its growth strategy whilst maintaining financial discipline through mainly bolt-on acquisitions sensibly priced,” Moody’s said.
“Arkema's strategy is to increase the contribution of more value added-products in its existing main segments and to increase vertical integration,” it added.
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