Multinational Companies in China’s Chemical Industry
Chemical MNCs show strong verbal commitment to China, but the real situation is somewhat underwhelming.
Arkema
Arkema to Build PA Powder Plant in China
French chemical producer Arkema has announced it will build a new plant for bio-based polyamide 11 powder at Changsu, China, with start-up planned for 2023. The investment runs parallel to the company’s €350 million mega project taking shape on Singapore’s Jurong Island, the latter encompassing both a PA resins unit and a plant to produce its feedstock, 11-aminoundecanoic acid.
Arkema to Sell Epoxides Business to Cargill
Arkema has announced it is selling its epoxides business for $38.8 million to US agriculture giant Cargill. The agreed price for the activities with sales of around $40 million and some 45 employees is equivalent to around 10 times EBITDA.
Arkema to Acquire Plastics Compounder Agiplast
As it sheds more commodity-oriented products in its plastics portfolio, French specialty chemicals producer Arkema has announced plans to acquire Agiplast, an Italian compounder regarded as a leader in the regeneration of high performance polymers, in particular specialty polyamides and fluoropolymers. The deal is expected to close next month.
Arkema to Acquire Edge Adhesives Texas
French specialty chemicals producer Arkema said it plans to acquire Edge Adhesives Texas, as “a complementary asset” that will boost subsidiary Bostik’s offerings in high performance adhesives in the US. Financial terms were not disclosed.
Arkema Closes Sale of PMMA Business to Trinseo
Arkema has completed the sale of its PMMA business to US plastics and rubber producer Trinseo, a deal announced in December 2020. The French chemical company said the divestment is “fully in line” with its ambition to become a pure specialty materials player by 2024, with the three complementary segments of Adhesive Solutions, Advanced Materials and Coating Solutions.
Arkema to Start Singapore PA 11 Plant in 2022
Arkema has confirmed it is on track to begin production of its polyamide 11 high performance polymer and feedstock aminoundecanoic acid at a new plant on Singapore’s Jurong Island in the first half of 2022. The project announced in 2017 calls for a 50% increase in its global PA 11 capacity. Starting material for the biopolymer is castor oil.
Arkema Hikes China Fluoropolymer Capacity
Arkema is planning to invest in more fluoropolymer capacity in China in order to meet strong demand into lithium-ion batteries, as well as the water filtration, construction coatings and semiconductor industries.
Arkema to Sell PMMA Business to Trinseo
France’s Arkema has announced plans to sell its PMMA engineering plastic arm to Trinseo of the US for an enterprise value of €1,137 million, slightly more than nine times the business’s estimated 2020 EBITDA.
Arkema Acquires US Photopolymer Specialist
French specialty chemicals producer Arkema has acquired Colorado Photopolymer Solutions. Based in Boulder, Colorado. The US company develops and markets a range of value-added, formulated photopolymer resin solutions for energy curing technology, especially for 3D printing markets.
Arkema Starts Up Extra China Kynar Capacity
Arkema plans to start up its 50% expansion of Kynar fluoropolymer capacity at Changshu, China, next month. First commercial volumes will be supplied starting January 2021, the French specialty chemicals group said.
Arkema Executives Acquitted in Crosby Case
A Texas judge has acquitted Arkema and three of its executives over an explosion and fire at the company’s facility in Crosby during Hurricane Harvey in August 2017.
Arkema Invests in Japanese Adhesives Plant
In line with its geographical expansion strategy, French specialty chemicals producer Arkema’s adhesive solutions segment Bostik has started up a new world-scale industrial adhesives plant in Japan to supply customers in the region’s steadily growing markets.
Arkema to Acquire Adhesives Producer Fixatti
French chemical producer Arkema is planning to acquire high-performance thermobonding adhesive powders manufacturer Fixatti. The move is aimed at strengthening subsidiary Bostik’s global offering of high value-added technologies in hotmelt adhesive solutions for niche applications in the construction, technical coating, battery, automotive and textile printing industries.
