Arkema has completed its acquisition of adhesives producer Bostik for an undisclosed sum.

The US company with annual sales of just over €1.5 billion and nearly 5,000 employees claims to be world's number three adhesives producer.

Arkema financed the takeover with a bond issue worth €700 million.

With the deal, the French chemical producer, once part of oil and petrochemicals group Total, said it has reached "a new milestone" in its development. Bostik's growth prospects and the synergies with its own portfolio are expected to help reinforce Arkema's position in specialty chemicals and further develop its High Performance Materials Segment.