ARKEMA
French group buys Ashland's adhesives unit
 Further support for the Bostik adhesives unit (Photo: Arkema) |
French specialty chemicals group Arkema (Colombes; www.arkema.com) said it is acquiring the performance adhesives division of US resin manufacturer Ashland (Dublin, Ohio; www.ashland.com) for USD 1.65 bn (EUR 1.39 bn). According to Arkema CEO Thierry Le Hénaff, the assets are to be assigned to Bostik, the company’s adhesives unit.
Ashland’s adhesives division, with its 330 employees and six plants, is expected to generate sales of USD 360m in 2021, with EBITDA forecast at around USD 95m. The unit supplies a wide range of customer industries, including packaging, automotive engineering and construction. Le Hénaff said he sees great potential for growth, particularly in Europe and Asia, whose markets Ashland has so far only worked on to a limited extent.
With the acquisition, Bostik’s turnover is expected to growth to more than EUR 3 bn. At the same time, Arkema said it expects the unit’s EBITDA margin to increase to more than 17% in 2024.
Ashland’s adhesives division, with its 330 employees and six plants, is expected to generate sales of USD 360m in 2021, with EBITDA forecast at around USD 95m. The unit supplies a wide range of customer industries, including packaging, automotive engineering and construction. Le Hénaff said he sees great potential for growth, particularly in Europe and Asia, whose markets Ashland has so far only worked on to a limited extent.
With the acquisition, Bostik’s turnover is expected to growth to more than EUR 3 bn. At the same time, Arkema said it expects the unit’s EBITDA margin to increase to more than 17% in 2024.
08.09.2021 Plasteurope.com [248496-0]
Published on 08.09.2021
German version of this article...