Arkema SA Announces Project For Divestment Of Tin Stabilizer Business

Arkema SA announced a project for the sale of its tin stabilizer business to PMC Group headquartered in Mount Laurel, NJ, a manufacturer of performance chemicals and plastics. With this proposed divestment of organometallic products, including Thermolite tin stabilizers, Fascat catalysts, and fine chemicals, Arkema continues to refocus its activities on fast growing core specialty businesses. The project will involve 234 people and 4 industrial sites around the world: the Carrollton KY, plant, certain assets at the Mobile (Axis) AL, plant in the US, and the Beijing plant in China will be transferred. Additionally, the part of the Vlissingen site (Netherlands) dedicated to tin stabilizer operations will be run by Arkema on behalf of PMC. It is anticipated that all involved employees in the sold business will be offered employment with the new entity. Following this divestment, due to be completed in the Fall, Arkema's Functional Additives business unit (10% of the Group's sales in 2011) will be recentered on organic peroxides used as reaction initiators for commodity polymers, in which Arkema is number 2 in the world; acrylic impact modifiers and glass coating chemicals for the manufacture of flat glass and bottles. This divestment project is subject to the works council information and consultation process in the Netherlands and to approval by the relevant antitrust authorities.