Arkema has announced a project for the sale to INEOS of its 50% stake in Oxochimie, their oxo alcohols manufacturing joint venture, and the associated business.
| Arkema Announces Sale of Project to INEOS - Oxo
Alcohols Manufacturing JV
Arkema produces oxo alcohols on the Lavéra site (France) in a 50/50 manufacturing joint venture with INEOS. These products are used in part for the production of the Group’s acrylic esters in Europe. They are also sold on the free market for annual sales of some 40 million euros.
Supply of Acrylic Esters Units
As part of the program to divest €700 million sales, the Group announces the project to divest to INEOS its stake in Oxochimie, as well as the associated business. Furthermore, INEOS will continue to supply the Group’s acrylic esters units.
The project, due to be finalized early 2017, is subject to an information and consultation process of social work councils and approval of the relevant antitrust authorities.
Global chemical company and one of the leading chemicals producers, 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, 15,700 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.