PARIS Jan 24 French chemicals group Arkema
plans to make further acquisitions to beef up its
high-performance materials business after a recent joint venture
in China, its chief executive told Les Echos newspaper.
The company on Thursday announced a partnership and initial
investment of $240 million in Jurong Chemical, China's biggest
manufacturer of acrylic acid and a unit of Singapore-listed firm
Arkema has earmarked up to 1.2 billion euros for
acquisitions from 2012 to 2016 period, and will use roughly one
third of that for the Chinese venture, CEO Thierry Le Henaff
said in the newspaper interview.
"We now think we will use the balance to strengthen our
high-performance materials business," he said. "We may still do
several deals to maintain the balance between our three
businesses - acrylics, industrial specialties, and high
(Reporting by Dominique Vidalon; Editing by Edwina Gibbs)