ARKEMA
Acquisition of German adhesives specialist Bostik wrapped up / Business integrated into High Performance Materials segment
Arkema (Colombes / France; www.arkema.com) on 2 February completed its takeover of adhesives specialist Bostik (Borgholzhausen / Germany; www.bostik.com) – for previous coverage, see Plasteurope.com of 23.09.2014. The latter will be integrated into the French group’s High Performance Materials Segment, and operate as the Speciality Adhesives business unit. Bostik’s 4,900 employees are spread across 40 countries. The company last posted sales of about EUR 1.5 bn.
 Bernard Pinatel (Photo: Bostik) |
Arkema said the purchase is in line with its goal of becoming a “world leader in speciality chemicals and advanced materials.” The acquisition was financed with a EUR 700m bond issue, among others, the French group said, adding that with the inclusion of Bostik, total group sales are expected to reach about EUR 7.6 bn.
In the wake of the integration, Bostik CEO Bernard Pinatel was appointed a member of Arkema’s executive committee. Pinatel will succeed Pierre Chanoine, who is retiring, and will also lead the High Performance Materials Segment. In addition, he will remain Bostik’s managing director.
In the wake of the integration, Bostik CEO Bernard Pinatel was appointed a member of Arkema’s executive committee. Pinatel will succeed Pierre Chanoine, who is retiring, and will also lead the High Performance Materials Segment. In addition, he will remain Bostik’s managing director.
05.02.2015 Plasteurope.com [230420-0]
Published on 05.02.2015
German version of this article...