Arkema speeds up its development in Asia and in green chemistry with the closing of the acquisition of Hipro Polymers and Casda Biomaterials
« This acquisition represents a large development potential for Arkema. It offers significant growth drivers for our high-tech polyamides, and will help us become the only chemical manufacturer in the world to offer the full range of polyamides 10, 11 and 12. Positioned in the green chemistry sector, this acquisition of companies in China fits in well with the growth strategy conducted by the Group in the last 5 years, » stated Thierry Le Hénaff, Arkema Chairman and Chief Executive Officer.
By adding Hipro Polymers’ PA10.10 to its existing high performance polymer portfolio, Arkema is strengthening its world leading position in specialty biosourced polyamides, which currently enjoy 15 to 20% annual growth. Arkema’s strong reputation and application know-how in end-markets will help speed up the development of Hipro Polymers, in particular in transportation (automotive, trucks), renewable energies, and electronics. Hipro Polymers’ site, near Shanghai, will see its polyamide production triple from mid-2012.
With Casda Biomaterials, the world’s leading producer of sebacic acid, Arkema benefits from integrated feedstock for the production of PA10.10, and, through this strategic intermediate, will supply diversified world markets such as lubricants, plasticizers and corrosion-inhibiting additives, as well as the fast-growing biosourced and biodegradable polymers market. Casda Biomaterials has been operating a new production line since 2010, using a reliable and competitive process, located in a recent industrial zone south of Beijing.
Both companies report sales estimated at $230 M for 2011, and employ 750 people on two sites in China.
A global chemical company and France’s leading chemicals producer, Arkema is building the future of the chemical industry every day. Deploying a responsible, innovation-based approach, we produce state-of-the-art specialty chemicals that provide customers with practical solutions to such challenges as climate change, access to drinking water, the future of energy, fossil fuel preservation and the need for lighter materials. With operations in more than 40 countries, 15,800 employees and 9 research centers, Arkema generates annual revenue of €5.9 billion, and holds leadership positions in all its markets with a portfolio of internationally recognized brands. The world is our inspiration.