France's Arkema finalises divestment of vinyls business

03 July 2012 09:21  [Source: ICIS news]

SINGAPORE (ICIS)--Arkema has finalised the divestment of its vinyl products segment to Switzerland-based Klesch Group, the French producer said on Tuesday.

The vinyl products activities have been grouped within a new company called KEM ONE, which is headquartered in Lyon, France, and reports sales of around €1bn ($1.23bn), Arkema said in a statement.

“This divestment is consistent with Arkema’s strategy to refocus its business on specialty product lines,” said Thierry Le Henaff, chairman and CEO of Arkema.

Geneva-headquartered Klesch Group is one of Europe's leading operators of industrial and commodity-related businesses, according to Arkema.

($1 = €0.79)

By: Joey Lau

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