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.