Arkema finalizes the divestment of its PMMA business to Trinseo, maker of plastics, synthetic rubber and latex binders. The company says the move is in line with the company’s goal to become a pure specialty materials player by 2024. Following the announcement made on December 14th, teams from Arkema and Trinseo have carried out all the steps leading to the closing of the transaction, according to the company.
The divested business reportedly employs some 860 people and operates seven production sites (four in Europe and three in North America). The net proceeds of the divestment, based on an enterprise value of €1,137 million, will take into account a capital gains tax estimated at around 15% of this amount, according to Arkema.
Arkema reported sales of around €8 billion in 2020 and operates in 55 countries with 20,600 employees worldwide, according to the company.
For more information, visit: www.arkema.com
