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Chemical maker Arkema plans to acquire Coatex

Jul '07
Arkema announces the planned acquisition of the Coatex group currently wholly owned by the Omya Group. This first acquisition is fully in line with the external growth strategy announced by Arkema for its core business, aiming at reinforcing high added value activities.

Coatex manufactures specialty polymers mainly acrylic based, used as dispersants and thickeners. The main end markets of these high growth specialty chemical activities include paper, paint, water treatment, cosmetics and textile.

With its headquarters and largest site in Genay, near Lyon (France) Coatex employs 300 people in the world (Europe, Americas, Asia) and reported sales of € 150 millions in 2006.

"This first acquisition is fully part of our strategy to refocus Arkema on its strongest product lines. It will reinforce the integration of our portfolio, helping Arkema to become more resilient to economic cycles. This acquisition is a unique growth opportunity in the field of high added value acrylic polymers", explains Thierry Le Hénaff, Arkema Chairman and CEO.

The project follows the recent announcement of the divestment of non-strategic assets, in particular agrochemicals and urea formaldehyde resins, and corresponds to a new step in Arkema's transformation and development process.

Coatex's business offers strong synergies with Arkema's in raw material, process and R&D terms, and represents the natural downstream activities of Arkema's acrylic monomer production sites in Bayport (United States) and Carling (France).

The proposed deal is also a genuine opportunity for the Omya and Arkema groups to develop long-term strategic cooperation, in particular in technical and commercial fields.

The project is subject to the legal information and consultation process involving personnel representative bodies for the three groups, Arkema, Coatex and Omya, and to the approval of the antitrust authorities in the relevant countries.

Arkema Inc

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