Part of the PMMA Business Unit (Industrial Specialties division), the Functional Polyolefins activity represents sales of some €250 million.
It comprises ethylene copolymers and terpolymers for the food packaging, cable, electronics and coatings markets, and leverages brands: Evatane, Lotryl, Lotader, Orevac.
This activity employs around 100 people in France and has an international sales network of around 30 people.
A subsidiary of South-Korean group SK, SK Global Chemical reported sales of $11.9 billion in 2018 and operates around ten production sites around the world.
The transfer of the business from Arkema France to SK Global Chemical would lead to the creation of a French subsidiary of the South-Korean group.
The offer received is based on an enterprise value of €335 million.
The proposed disposal is subject to an information and consultation process involving Arkema’s employee representative bodies and to the approval of the relevant antitrust authorities. The project is expected to be finalized in the second quarter of 2020.