The deal will help Arkema to strengthen its adhesive solutions segment and achieve the tag of pure speciality materials player by 2024
The Arkema factory in Pierre-Bénite, France (Credit: Touriste/Wikipedia)
French speciality chemicals and advanced materials company Arkema has wrapped up the acquisition of the performance adhesives business of Ashland, a wholly-owned subsidiary of Ashland Global Holdings.
The deal to acquire Ashland’s performance adhesives business was announced by Arkema last year.
With around 330 employees and six production plants, Ashland’s performance adhesives business provides a range of adhesives for flexible packaging applications.
The business offers pressure-sensitive adhesives, which are used in decorative, protection, and signage films for automotive and buildings.
It also provides structural adhesives that can be used in segments such as wood bonding for construction, composites and transportation.
The business generated estimated sales of about $360m in 2021 and an EBITDA margin above 25%.
Arkema believes that the transaction will boost its adhesive solutions segment, and is in line with the group’s strategy to become a pure Specialty Materials player by 2024.
Arkema chairman and CEO Thierry Le Hénaff said: “We are very happy to welcome Ashland Performance Adhesives’ teams within Arkema.
“I am convinced that Bostik will benefit from this deal to accelerate its development in attractive and high-growth applications.
“Our strengthened Adhesive Solutions segment will play a key role in implementing our ambition to be a leader in innovative materials for a more sustainable world.”
Furthermore, the deal will help Arkema’s company Bostik to expand its product offering and position itself as a major player in high-performance industrial adhesives.