Arkema's proposed spin-off stock market listing - Central Works Committee December 7 2005

12/08/2005    Press Release

Arkema's proposed stock market listing by way of a spin-off is part of the ongoing reorganization of Total's Chemicals Branch. Its aim is to provide Arkema with the means to stand as a global player in the chemical industry, boasting coherent industrial sectors together with an organization that is more reactive in its decision-making processes and closer to its customers.

A Central Works Council meeting was held on Wednesday December 7 2005 at Arkema's Head Office in Paris La Défense, its agenda being the presentation of Arkema's proposed stock market launch by Total as part of the legal information and consultation procedures involving the personnel's representative bodies.

The project is subject to the approval of Total's shareholders at the Annual General Meeting scheduled for May 2006.
Since its creation on October 1st 2004, Arkema has been gradually setting up an organization that now provides it with the vital competences it needs for its autonomy. Once it has become an independent group, Arkema will be able to fully implement its strategy in concrete terms based in particular on innovation, the development of its activities in Asia, and selective growth in its strong points in Europe and the United States.

This proposed stock market listing will have no impact on the existing employment status of the personnel within Arkema and its affiliates.

Following the presentation, the Central Works Council appointed an expert who will examine the terms of the project's implementation. A further Central Works Council meeting will be convened in January 2006.

A global chemical player, Arkema consists of 3 coherent and balanced business segments: Vinyl Products, Industrial Chemicals, and Performance Products. Present in over 40 countries with 18,600 employees, Arkema achieves sales of 5.2 billion euros. With its 6 research centers in France, the United States and Japan, and internationally recognized brands, Arkema holds leadership positions in its principal markets.