Specialty chemicals and materials firm Arkema recently struck a deal to purchase Agiplast, a plastic compounding company that focuses on materials regeneration, positioning it to be the first fully integrated manufacturer of high-performance polymers to offer both bio-based and recycled products.

“With the planned acquisition of Agiplast, a leader in the regeneration of high performance polymers, in particular specialty polyamides and fluoropolymers, Arkema will be able to offer a fill service to customers in terms of materials circularity, addressing growing market expectations in this field,” the company wrote in a release issued Tuesday announcing plans for the transaction. “This project, which contributes to the sustainable development of the polymer industry, is perfectly in line with Arkema’s sustainable growth strategy.”

Agiplast generates annual sales of about €15 million. It currently operates a production facility in Italy and employs 32 workers.

Arkema launched the Virtucycle program with Agiplast in 2019 to develop loops for the collection and regeneration of high-performance polymers while also lowering emissions of CO2.

The company anticipates the deal will close in June this year.