Arkema, a France-based chemical manufacturer, has declared a project to divest its tin stabilizer business to PMC Group, a New Jersey-based performance plastics and chemicals manufacturer.
This planned divestment of organometallic products includes Fascat catalysts, Thermolite tin stabilizers and fine chemicals. Therefore, Arkema strives to refocus its activities on expanding core specialty businesses.
On the basis of tin chemistry, Thermolite heat stabilizers are specifically utilized in the manufacturing pf PVC, which is mainly used in the construction sector, whereas Fascat catalysts are utilized in automotive specialties as well as in other applications. This organometallic activity, which is a part of Arkema’s functional additives business division, has announced sales of about €180 M in three continents.
Additionally, 4 industrial locations and 234 people across the globe will be involved in this project. The Beijing plant in China, the Carrollton KY, plant, and some assets at the Mobile (Axis) AL plant in the US will be shifted.
On behalf of PMC, Arkema will operate the portion of the Vlissingen location meant for tin stabilizer operations. The new entity is expected to offer jobs to all the workers involved in the sold business.
After the divestment which is expected to be completed during the fall, the functional additives business unit of Arkema will be centered again on organic peroxides, which are utilized as reaction initiators for use in commodity polymers as well as in glass coating chemicals and acrylic impact modifiers for use in flat bottles and glass manufacturing.
While processing PVC into finished products, heat or tin stabilizers are specifically utilized to prevent heat-induced decomposition. These stabilizers are often used in stiff and plasticized PVC.
Source: http://www.arkema.com/