The divestment of Arkema’s PMMA business to Trinseo, fully in line with the Group’s ambition to become a pure Specialty Materials player by 2024, was finalized yesterday.|
Following the announcement made on December 14th, Arkema’s and Trinseo’s teams have carried out all the steps leading to the closing of the transaction.
The divested business, which employs some 860 people and operates 7 production sites (4 in Europe and 3 in North America), will thus be joining Trinseo, a company specialized in the production of plastics, synthetic rubber and latex binders.
The net proceeds of the divestment, based on an enterprise value of €1,137 million, will take into account a capital gains tax estimated at around 15% of this amount.
The Group thus takes another major step in its transformation, with the ambition to become a pure player in sustainable and innovative Specialty Materials by 2024, focused on the three complementary segments of Adhesive Solutions, Advanced Materials and Coating Solutions.
Arkema, Colombes, France