10 July 2012 17:28 [Source: ICIS news]
LONDON (ICIS)--Arkema will sell its tin stabiliser business to US-based chemicals and plastics producer PMC Group, the France-based specialty chemical company said on Tuesday.
The divestment is part of Arkema’s strategy to refocus its activities on fast-growing core specialty businesses. Financial details of the deal were not disclosed.
Following the divestment of its tin stabiliser business, expected to be completed in the third quarter of 2012, Arkema said its Functional Additives business unit (which contributed 10% to the group’s sales in 2011) will focus on organic peroxides used as reaction initiators for commodity polymers.
The deal includes four industrial sites – Arkema’s plant in Carrollton, Kentucky, and certain assets at its Mobile plant in Axis, Alabama in the US; Arkema’s Beijing plant in China will be transferred; while the part of the group’s Vlissingen site in the Netherlands that is dedicated to tin stabiliser operations will be run by Arkema on behalf of PMC Group.
Arkema said that it anticipated all involved employees in the sold business will be offered employment with PMC Group, which is headquartered in Mount Laurel, New Jersey.
Tin stabilisers are used to prevent heat-induced decomposition during the processing of polyvinyl chloride (PVC) into finished products.
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