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Arkema has announced a plan to divest its two South African subsidiaries, Arkema Resins Proprietary Limited and Harveys Composites Proprietary Limited to South African company, Ferro Industrial Products Proprietary Limited, which specialises in the production and distribution of coatings and materials for composite markets.
Through this divestment, Arkema will dispose of non-strategic activities – such as resins for composite materials, which represent few synergies with the remainder of its coating activities.
Both subsidiaries sold represented a turnover of about €45M in 2012. The proposed disposal is for 125 people, a production plant in Isipingo (Arkema Resins Proprietary Limited) near Durban and five deposits (Harveys Composites Proprietary Limited).