Arkema Wraps Up Sale of Functional Polyolefins Business

Specialty chemicals and high-performance materials manufacturer Arkema completed the sale of its Functional Polyolefins business to SK Global Chemical on June 1, the company announced in a release Tuesday. 

The transaction was based on an enterprise value of €335 million, or about $374.7 million. Arkema said the deal is part of a company effort to focus on its Specialty Materials business.

About 100 employees of the Functional Polyolefins business in France will join SK Global Chemical following the close of the sale.

The Functional Polyolefins business, part of Arkema’s PMMA Business Unit and Industrial Specialties division, produces ethylene copolymers and terpolymers used in food packaging, cable, electronics, and the coatings markets that are sold under the Evatane, Lotryl, Lotader, and Orevac brands. Sales generated by the business total about €250 million.

Plans for the transaction were first announced in October 2019, Powder & Bulk Solids reported. Arkema said at the time that the deal would provide SK Global Chemical with the opportunity to “consolidate its position in the packaging market and enter new industrial markets such as cable manufacturing.”

For more news headlines, articles, and equipment reviews, visit our Equipment Zones

More Powder & Bulk Solids articles:

BASF Starts Operations at New Plant in South Carolina'

DOD Taps 3M to Boost Output of N95 Respirators in US

Fire Ignites in Magnesium Plant in Illinois