Arkema to not increase stake in Chinese acrylics firm Taixing Sunke

9:21 AM, 1st February 2016

COLOMBES, FRANCE: Arkema said that it had an option, until early 2016, to increase its stake in Taixing Sunke Chemicals, a production joint venture which owns and operates acrylic acid and butyl acrylate production units in Taixing, China, and therefore access an additional 160,000 tonne per year acrylic acid capacity.

As the financial terms of the option no longer reflect current market conditions for acrylics in China, Arkema has decided not to exercise this option, it said.

The company will keep its initial rights to acrylic acid capacities thus supporting the development of its downstream acrylic activities in Asia. In line with its strategy to further strengthen its high performance materials segment, the group could allocate part of the unused funds to make bolt-on acquisitions.

0 Comments

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.

Submit

ATLANTA, US: Axiall Corporation said that it has rejected an unsolicited and conditional proposal from Westlake Chemical Corporation to acquire all of ...

Human impact has created a ‘plastic planet,’ research shows

LEICESTER, UK: Planet Earth’s oceans and lands will be buried by increasing layers of plastic waste by the mid-century due to human activity, ac ...

Highly efficient heavy metal ions filter

ZURICH, SWITZERLAND: ETH researchers have developed a new water filtration system that is superior to existing systems in many respects: it is extreme ...

Clariant appoints Siemens Healthcare exec as executive committee member

MUTTENZ, SWITZERLAND: Clariant AG said that it has appointment Britta Fuenfstueck (43) as a new member of its executive committee, effective April 201 ...

Univation, Linde to cooperate on PE and cracker integration