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Arkema moves further to specialities

France’s Arkema has announced two transactions of very different scales. Both are described as “a new step in the group’s transformation, and is fully in line with Arkema’s ambition to become a pure speciality materials player by 2024”.

The company has agreed to divest its polymethyl methacrylate (PMMA) business to materials player Trinseo for an enterprise value of €1,137 million, or 9.3x estimated EBITDA for 2020. This includes seven sites in Europe and North America, which employ about 860 people and are expected to turn over €510 million this year.

Arkema to focus on speciality materials

Arkema has held a strategy update meeting, at which it presented “its ambition to become a world leader in speciality materials, realigned around three coherent businesses with attractive growth prospects”. By 2024, it aims to be a pure player in this field with “a resilient and focused portfolio, characterised by high profitability and strong cash generation”.

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