Arkema completes acquisition of Coatex

2007/10/01

HOUSTON (ICIS news)--French chemicals producer Arkema has completed the acquisition of Coatex, a manufacturer of high valued added acrylic polymers, the company said on Monday.

The main end-market of the business unit includes the paper and paint industries, water treatment, as well as cosmetics and textile manufacture.

Coatex’s businesses offer strong synergies with Arkema and represent a downstream activity of Arkema’s acrylic monomer production sites in Bayport, Texas, and Carling, France, the company said.

The deal was announced in July.

Coatex employs a staff of 300 people worldwide and had sales of €150m ($214m) last year. Arkema has sales in the range of €5.7bn per year, the company said.

($1.00 = €0.70)