Arkema announced that it has decided to divest its Vinyl Products business to the Klesch group, as per the announcement made during November 2011. Arkema will continue to concentrate on its specialty chemical business.
KEM ONE has been established which combines the operations related to Arkema’s project. This new company is headquartered in Lyon, France, and maintains an exceptional balance sheet structure, and also announced sales of approximately €1 billion.
Arkema’s Chief Executive Officer and Chairman, Thierry Le Hénaff thanked the workers of the Vinyl Products business for their commitment and interest in the company over the years. The divestment is in line with Arkema’s plan to concentrate on its Vinyl products business.
The Klesch Group’s Chairman and Founder, A. Gary Klesch commented that the latest development is important for everyone associated with KEM ONE. This new company is looking forward to benefit from the growth opportunities in the future, and is one of the main vinyl product businesses situated in Europe.
Arkema is well-positioned to benefit completely from the growth associated with sustainable development, and has aimed to become one of the top manufacturers of chemicals by 2016. It is producing sales of €8 billion and EBITDA of €1,250 million.
Source: http://www.arkema.com/