The sale of Arkema’s Functional Polyolefins business to SK Global Chemical was finalized on June 1st, according to Arkema. With sales of around €250 million, the functional polyolefins business, which is part of the PMMA activity, comprises ethylene copolymers and terpolymers for the food packaging, cable, electronics and coatings markets. The business employs around 100 people in France and has an international sales network of around 30 people who will join SK Global Chemical, a subsidiary of South-Korean group SK.
Based on an enterprise value of €335 million, the divestment is reportedly fully in line with the group’s strategy to become a pure player in specialty materials by 2024 centered around the three complementary segments of adhesive solutions, advanced materials and coating solutions, according to Arkema.
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