Arkema has completed the acquisition of its partner’s stake in Taixing Sunke Chemicals, its joint venture manufacturing acrylic monomers in China, and now becomes the sole shareholder of the company.
With this transaction, which has approximately €70 million ($86 million) impact on the net debt, the Group will support the growth of its customers in Asia and benefit from greater flexibility to run this business in a region which accounts for more than 50% of the global acrylic acid demand.
Arkema and Jurong Chemical created Sunke joint venture in 2014 comprising the assets of Jurong’s acrylic acid production site in Taixing opened in 2012.
The Taixing acrylic acid site has an annual production capacity of 480,000 metric tonnes.
Source: Arkema
