Arkema finalized the divestment of its Vinyl Products segment

Arkema finalized today its project for the divestment* of its Vinyl Products activities to the Klesch group announced in November 2011, and so continues to refocus its business on specialty chemicals.

The activities concerned by the project have been grouped within a new company called KEM ONE. Headquartered in Lyon, France, this company has an excellent balance sheet structure, and reports sales of around one billion euros.

“I would like to thank the personnel of the Vinyl Products segment for their involvement and commitment at Arkema over the years, and I wish them all every success in the future. This divestment is consistent with Arkema’s strategy to refocus its business on specialty product lines” said Thierry Le Hénaff, Arkema Chairman and Chief Executive Officer.

Commenting, A. Gary Klesch, founder and Chairman of the Klesch Group, said: “This is a very exciting day for everyone involved with KEM ONE. As one of the largest vinyls businesses in Europe and with the strength in depth of its management team and the dedication of its staff, KEM ONE has a great future as it looks to capitalize on the growth opportunities which lie ahead.”

Thanks to a balanced distribution of sales across the world and a sustained innovation drive, Arkema is perfectly positioned to benefit fully from the growth related to sustainable development, and confirms its ambition to become one of the world’s top chemicals manufacturers by 2016, generating sales of some 8 billion euros and EBITDA of 1,250 million euros.

Source: Arkema