On June 1, Arkema completed the sale of its functional polyolefin business to SK Global Chemical, which is fully in line with the Group's strategic adjustment to focus on special materials.
As part of the PMMA business, sales of the functional polyolefin business are approximately 250 million euros, including ethylene copolymers and terpolymers for the food packaging, cable, electronics, and coatings markets. This business involves about 100 employees in France and an international sales team of about 30 people. They will also join SK Comprehensive Chemical, a subsidiary of the South Korean SK Group.
Based on an enterprise value of 335 million euros, this divestiture is fully in line with the Group’s strategy of becoming a pure specialty material manufacturer by 2024 on April 2, 2020. It focuses on the three major complementarities between adhesive solutions, advanced materials and coating solutions. Highly innovative business sector.