Arkema divest subsidiary Sunclear BF Invest

Arkema to divest subsidiary Sunclear to BF Invest

10:05 AM, 18th June 2015
Arkema to divest subsidiary Sunclear to BF Invest

COLOMBES, FRANCE: Arkema Inc said it plans to divest its Sunclear subsidiary - the plastic and aluminium sheet distribution business to BF Invest, a historical commercial partner of Sunclear.

Sunclear, part of Arkema’s polymethyl methacrylate (PMMA) business, represents sales of about €180 million ($205 million) and an enterprise value of €105 million, employing 354 people in France, Italy and Spain, it said.

This project is consistent with its program to divest €700 million sales aimed at pursuing the group’s strategy to refocus on its core business, said Arkema.

Arkema has just launched an information and consultation process involving personnel representative bodies with a view to selling off its Sunclear subsidiary. The leader in its sector, Sunclear markets a wide range of products including polycarbonate sheets, PMMA sheets, and PVC panels. This divestment project will be presented to the Arkema France Central Works Council on 25 June and is subject to the trade union information and consultation process and to the approval of the antitrust authorities in France, it said.

© Worldofchemicals News



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