Arkema Closes First Stage of Acrylic Assets Acquisition in China
PARIS - Arkema has finalized the first stage of its acrylics assets acquisition project in Taixing, China, and now has access to a modern and competitive 160,000 t/year acrylic acid production capacity in Asia for the sum of $240 million. This investment will enable the group to serve its customers in China and Asia in growing markets such as super-absorbents, paints, adhesives and water treatment.
The company finalized the creation of Sunke, a joint venture with Jurong Chemical, in which Arkema has a majority interest, and which consists of two acrylic acid production lines each amounting to 160,000 t/year. The lines are located at the Taixing site in China. With the closing of this first stage, Arkema has access to half of the site’s installed production.
”This new site will enable us to meet our customers’ growing demand for acrylic acid and esters in China and in Asia, and to support the growth of our Coating Solutions segment in this region of the world. The successful integration of these new assets will be a priority for the group and its personnel over the next few months,” said Marc Schuller, member of Arkema’s Executive Committee.