Arkema and Jayant Agro have signed a joint venture agreement whereby Arkema will acquire a stake of some 25% in Ihsedu Agrochem, a subsidiary of Jayant Agro, specializing in the production of castor oil. This joint venture aims to develop castor oil production in order to provide Arkema with long-term secure and competitive access to this strategic raw material for the manufacture of its biosourced polyamides.
On March 27th 2013, the Lyon commercial court opened insolvency proceedings with continuation of activities for a six-month observation period against the company Kem One SAS.
As part of the financing of the observation period, Arkema points out that its contribution amounts to €68.7 million.
Arkema announces that it has acquired a majority stake in AEC Polymers, a French manufacturer of structural adhesives. AEC Polymers recently developed a range of methacrylate glues (SAF® range) based on an Arkema technology, which boast unrivalled mechanical properties. AEC Polymers will join the Group’s new products and new technologies incubator.
The Lyon commercial court has decided to open insolvency proceedings with continuation of activities for a six-month observation period against the company Kem One SAS, corresponding to the upstream part (chlorine / caustic soda electrolysis and PVC production) of the various businesses sold by Arkema to the Klesch Group.
Arkema has just seen, much to its surprise, the press release published today by the Klesch group which calls into question the terms of the divestment by Arkema of the Vinyl Products segment - which has now become Kem One - on July 2nd 2012.
Arkema’s Board of Directors, at a meeting held on November 7th 2012, decided to propose to the next ordinary general meeting on June 4th 2013 the appointment of Mrs Victoire de Margerie as Director of Arkema.
On October 6th 2012, in the presence of the Prime Minister of Malaysia, CJ and Arkema invited 500 guests for the Ground Breaking Ceremony of their project in Kerteh, in the State of Terengganu in Malaysia.
On October 5th , 2012, Arkema successfully completed the issue of an additional €250 million tranche to its original bond due April 30th 2020, increasing its size to an aggregate amount of €480 million.
Announced on July 16th this year, the project for the acquisition by the Arkema subsidiary Coatex of an acrylic additives and emulsions production site from Brazilian company Resicryl, was closed on October 1st 2012 as scheduled. This transaction fits perfectly with the Group's strategy to increase its presence in high-growth countries, particularly in Latin America, and strengthen its downstream integration of its acrylics activities.
On October 1st 2012 Arkema finalized the divestment of its tin stabilizer business announced in July 2012 to PMC Group, specialized in the manufacture of performance chemicals and plastics. This operation is fully in line with Arkema’s ambition to be a world leader in specialty chemicals and advanced materials and with the target, announced at the Investor day mid-September, to divest around 400 million euros of sales between 2012 and 2016.
At an Investor Day taking place today in Paris, Arkema presents its 2016 ambition to become a world leader in specialty chemicals and advanced materials. With a selective and profitable growth strategy, the Group targets sales of 8 billion euros and an EBITDA margin of 16% in 2016 while maintaining gearing below 40%. Beyond, the Group intends to maintain its pace of development and aims to achieve sales of 10 billion euros with an EBITDA margin close to 17% in 2020.Confident in its long term prospects, Arkema announces that its dividend per share will already show a significant step-up in 2012 and targets beyond a 30% payout ratio on adjusted net income.
Arkema has brought on stream, several weeks ahead of schedule, the 50% increase in its fluorinated polymer production capacity at its Changshu site announced early 2011. This new capacity will enable the Group to consolidate its leading position in this high added value product line which offers significant growth prospects. Arkema now has major production capabilities for Kynar® PVDF on the three continents of Europe, North America and Asia, and so will be able to accommodate the growth of its customers around the world.
Arkema has announced a project for the sale of its tin stabilizer business to PMC Group headquartered in Mount Laurel, NJ, a manufacturer of performance chemicals and plastics. With this proposed divestment of organometallic products, including Thermolite® tin stabilizers, Fascat® catalysts, and fine chemicals, Arkema continues to refocus its activities on fast growing core specialty businesses.
The world leader in PVDF fluoropolymer, an innovative and fast-growing (+7% p.a.) performance material, Arkema announces a major project for the development of its Kynar® PVDF business in Europe. Over €70M are to be invested into the Pierre-Bénite site in France, in particular to increase Kynar® PVDF production capacity by 50%, and so support customers in high-growth applications.
Total, SOBEGI (a Total and GDF-SUEZ subsidiary) and Arkema today inaugurated the « Lacq Cluster Chimie 2030 » (LCC30) project in the presence of Messrs Lionel Beffre, Pyrénées Atlantiques Prefect, Alain Rousset, Conseil Régional d’Aquitaine President, Georges Labazée, Conseil général des Pyrénées-Atlantiques President, and David Habib, Mayor of Mourenx and MP, together with around one hundred local elected officials and industry representatives from the Lacq region. LCC30 represents the culmination of many years of studies conducted by the three partners in order to put forward an exemplary industrial redevelopment of the site and establish the economic activity and employment in the Lacq region over the long term. The three partners will be investing 154 million euros (M€) to transform the Lacq industrial platform into a pole of excellence in fine chemicals and specialty chemicals. This investment has the backing of the State and of local authorities.