Arkema offers buy Total’s Bostik affiliate, global adhesives company

Arkema offers to buy Total’s Bostik affiliate, a global adhesives company

11:22 AM, 19th September 2014
Arkema offers to buy Total’s Bostik affiliate, a global adhesives company

PARIS, FRANCE: Total has received an offer from the French group Arkema, one of the world’s major players in specialty chemicals, to acquire its Bostik affiliate, a global adhesives company. Arkema’s offer values Bostik (wholly owned by Total) at €1.74 billion (around $2.25 billion), representing 11 times the company’s EBITDA.

In light of the quality of the project, Total has granted Arkema an exclusivity period to pursue the offer, and it will be presented to the relevant employee representatives, as part of the required information and consultation procedures.

An international player and France’s leading chemicals company, Arkema is aiming to become a world leader in specialty chemicals. Its growth strategy is based on innovation, an increased presence in emerging markets and targeted acquisitions in new activities.

“Joining France’s leading chemicals company would give Bostik the resources it needs to pursue its industrial and commercial development while fulfilling its commitments to employees and partners. A combination of Bostik and Arkema – which was the result of a successful spin-off from Total in 2006 – is a natural next step, given their shared history within our group. Total is pleased to be able to contribute to Arkema’s continued development in this way,” said Patrick Pouyanne, President of Refining & Chemicals, Total.

© Worldofchemicals News 

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Foster Wheeler, ZeoGas collaborate for fuel plant in US Gulf Coast

ZUG, SWITZERLAND: Foster Wheeler AG’s subsidiary of Global Engineering and Construction Group has entered into a collaboration agreement with Ze ...

Read more
Methanex restarts plant in Chile

VANCOUVER, CANADA: Methanex Corporation has successfully restarted its Chile I plant at its site in Punta Arenas, Chile. The Chile operation had been ...

Read more
Air Products announces major restructuring

LEHIGH VALLEY, US: Air Products announced a major company restructuring, with the goal of regaining industry leadership by providing excellent service ...

Read more
Lithium-sulfur batteries to become a commercial reality in near future

WASHINGTON DC, US: A fevered search for the next great high-energy, rechargeable battery technology is on. Scientists are now reporting they have over ...

Read more
Novel approach to convert fog into water

WASHINGTON DC, US: From the most parched areas of Saudi Arabia to water-scarce areas of the western US, the idea of harvesting fog for water is catchi ...

Read more
PolyOne opens new facility in Pune, India

CLEVELAND, US: PolyOne Corporation, a premier global provider of specialized polymer materials, services and solutions, official opened its new, state ...

Read more