Arkema recently announced that it will acquire two Chinese companies, one is Biopharmaceutical 1010 producer Hanpo Polymers, and the other is the world's leading producer of sebacic acid, which uses castor oil as raw material. The company, sebacic acid is a raw material of polyamide 1010. The two acquisitions are awaiting approval from the Chinese authorities and are expected to be completed by early 2012. The total sales of the two companies in 2011 are expected to be 230 million U.S. dollars, and the production base has a total of 750 employees.
Arkema Chairman and Chief Executive Officer Raynav said: "This acquisition is a good opportunity. It will help us improve our position in China. Over the past five years, China has always been a priority area for Arkema development. The polyamide 1010 can expand our high value-added polyamide product line and meet our green chemistry growth strategy."
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Care:
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