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Arkema has finalised the first stage of its acrylics assets acquisition project in Taixing, China and now has access to a modern and competitive 160,000t/yr acrylic acid production capacity in Asia for the sum of US$240M.
The investment will enable the Group to serve customers in China and Asia in markets such as superabsorbents, paints, adhesives and water treatment.
Arkema has finalised the creation of Sunke, a joint venture with Jurong Chemical, in which Arkema has a majority interest and which consists, in particular, of two acrylic acid production lines each amounting to 160,000t/yr located on the Taixing site. With the closing of this first stage, Arkema has access to half of the site’s installed production.
"This new site will enable us to meet our customers’ growing demand for acrylic acid and esters in China and in Asia and to support the growth of our Coating Solutions segment in this region of the world. The successful integration of these new assets will be a priority for the Group and its personnel over the next few months,” said Marc Schuller of Arkema’s Executive Committee.