Mar 12 2008
Arkema today presented to the Central Works Council a proposed agreement with Japanese company Sumitomo Seika for the sale to Sumitomo Seika of its business in superabsorbent polymers which will be toll-manufactured by Arkema on its Carling industrial site.
The world’s 4th and Asia’s 2nd leading producer, with two production plants, in Singapore and in Japan, with a total capacity of 140,000 tons per year, Sumitomo Seika ranks among the main superabsorbent polymer (SAP) players. Arkema has a single production plant, in Carling (France / Moselle), with a 15,000 ton/year capacity, generating annual sales of around €20m.
The acquisition by Sumitomo Seika of the SAP business from Arkema offers a genuine opportunity to develop this activity and strengthen the Arkema Carling plant which will toll-manufacture them:
The proposed agreement includes a long-term contract for the supply of acrylic acid produced on the Carling site. It should therefore help consolidate Arkema’s Acrylics business by bolstering a direct downstream activity.
The deal, which should become effective on April 1st 2008, is subject to the legal information and consultation procedure with the Arkema France works council.
Posted March 12th,2008