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Arkema SA sets up joint venture with Jurong Chemical

Thursday, 23 Jan 2014 01:30am EST 

Arkema SA:Announces the creation of Sunke, a joint venture in which Arkema will have a majority interest, comprising the assets of Jurong’s acrylic acid production site in Taixing opened in 2012.Says the Taixing site currently has a 320,000 t/year installed capacity, with two production lines.Says a third line with a 160,000 t/year capacity, due to start up in the first quarter of 2015, giving the plant a 480,000 t/year capacity.Says when the deal closes later in 2014, Arkema will have access to half of the site’s installed production, namely 160,000 t/year, for a $240 million investment.Says when the third line comes on stream, Arkema will have the option to access two thirds of the site’s acrylic acid installed capacity, namely 320,000 t/year, for an additional $235 million investment.Says it has a further option in the next 5 years to potentially acquire the remaining third of the acrylic acid production capacities, at a cost of $165 million. 

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-2.23 -3.86%
19 Sep 2014