03 October 2012 17:49 [Source: ICIS news]
LONDON (ICIS)--Arkema has completed the sale of its tin stabiliser business to US chemicals and plastics producer PMC Group, the French specialty chemicals company said on Wednesday.
The sale is part of a drive by Arkema to focus its activities on its core specialty businesses. The company expects to sell business units with combined sales of €400m between 2012 and 2016.With annual sales of around €180m ($221.4m), the tin emulsions division produces tin derivatives, catalysts, and specialty chemicals. The unit has four production sites across the US, Europe and China.
The sale of the Chinese part of the business is not expected to close until H1 2013, which the company attributes to administrative reasons.
Following the sale, Arkema’s functional additives business will be focused primarily on organic peroxides and glass coating additives.
Financial details were not disclosed.
($1 = €0.77)
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