Arkema announces a project for the divestment of its Tin Stabilizer business
Based on tin chemistry, Thermolite® heat stabilizers are used in PVC production, much of which is used in the construction sector, while Fascat® catalysts are used in automotive specialties and other applications. As part of Arkema's Functional Additives business unit, this organometallics activity reports sales of approximately 180M € on three continents.
The project will involve 234 people and 4 industrial sites around the world: the Carrollton KY, plant, certain assets at the Mobile (Axis) AL, plant in the US, and the Beijing plant in China will be transferred. Additionally, the part of the Vlissingen site (Netherlands) dedicated to tin stabilizer operations will be run by Arkema on behalf of PMC. It is anticipated that all involved employees in the sold business will be offered employment with the new entity.
Following this divestment, due to be completed in the Fall, Arkema's Functional Additives business unit (10% of the Group's sales in 2011) will be recentered on organic peroxides used as reaction initiators for commodity polymers, in which Arkema is number 2 in the world; acrylic impact modifiers and glass coating chemicals for the manufacture of flat glass and bottles.
This divestment project is subject to the works council information and consultation process in the Netherlands and to approval by the relevant antitrust authorities.
Tin stabilizers or heat stabilizers are used to prevent heat-induced decomposition during the processing of PVC into finished products. They are used mostly in rigid and plasticized PVC.
A global chemical company and France’s leading chemicals producer, Arkema is building the future of the chemical industry every day. Deploying a responsible, innovation-based approach, we produce state-of-the-art specialty chemicals that provide customers with practical solutions to such challenges as climate change, access to drinking water, the future of energy, fossil fuel preservation and the need for lighter materials. With operations in more than 40 countries, 13,200 employees and 9 research centers, Arkema generates annual revenue of €5.9 billion, and holds leadership positions in all its markets with a portfolio of internationally recognized brands. The world is our inspiration.