03 July 2012 11:19 [Source: ICIS news]
LONDON (ICIS)--KEM ONE, the new company created from Arkema’s former vinyls business, said on Tuesday that it plans to invest €400m ($506m) over the next five years to strengthen its manufacturing operations.
Swiss-based Klesch Group, KEM ONE’s parent company, finalised the acquisition of Arkema’s vinyl products business earlier on Tuesday.
KEM ONE said the €400m investment will strengthen the business’s manufacturing performance “with more modern technologies and to develop highly profitable specialty products through innovation”. Further details were not immediately available.
“This is a very exciting day for everyone involved with KEM ONE,” stated Gary Klesch, founder and chairman of family-owned Klesch Group.
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KEM ONE said it employs 2,600 people at 22 manufacturing sites, mainly in Europe but also in Asia and
Arkema divested the vinyl products business to increase its focus on specialty chemicals.
($1 = €0.79)
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