Arkema To Buy Package Of Chemicals Operations From Total For EUR550 Million
December 07 2010 - 5:23AM
Dow Jones News
French chemicals company Arkema SA (AKE.FR) Tuesday said it
plans to buy a package of assets from cross-town oil major and
former parent company Total SA (TOT), for an enterprise value of
EUR550 million.
In a separate statement, Total said selling the businesses shows
its strategy of "refoucusing" its specialty chemicals
activities.
The package of businesses has "growing" yearly sales of around
EUR850 million, Arkema said.
"Fully in line with its strategy to bolster its specialty
product activities, this project would establish Arkema as a leader
in the global coatings resins market," the company said.
-Adam Mitchell, Dow Jones Newswires, +33 1 40171756;
.mitchell@dowjones.com
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