Specialty materials and chemicals manufacturer Arkema announced a proposed transaction Friday to divest its phosphorous derivatives business Fabex to Belgian firm Prayon. Fabex is part of Arkema’s Performance Additives business line.
The phosphorous derivatives company has “little integration” with Arkema’s other activities, the firm detailed in a release. Fabex produces high purity phosphoric acid, sodium hypophosphite, and derivatives used in the electronics and pharmaceutical industries at a facility in Switzerland.
Arkema said the deal is slated to reach completed in the first quarter of 2023 following a consultation process with employee representative bodies in France and approval by Swiss authorities.
59 Fabex employees are expected to join Pravon when the sale closes.