Key Developments: Arkema SA (AKE.PA)
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11:35am EDT
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€76.00
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€76.44
€74.82
143,480
306,642
€87.77
€46.60
Latest Key Developments (Source: Significant Developments)
Arkema SA Completes EUR 250 Million Bond Issue
Arkema SA announced that it has completed the issue of an additional EUR 250 million tranche to its original bond due April 30, 2020, increasing its size to an aggregate amount of EUR 480 million. The new tranche has an annual yield slightly below 3%. Full Article
Arkema SA Finalizes Divestment of Tin Stabilizer Business to PMC Group
Arkema SA announced that it finalized the divestment of its tin stabilizer business announced in July 2012 to PMC Group, specialized in the manufacture of performance chemicals and plastics. The divested business accounts for sales of around EUR180 Million on three continents, and includes four production sites in the United States, Europe and China. The product range concerned by this divestment consists of tin derivatives, including Thermolite stabilizers used in the production of PVC for construction, Fascat catalysts used in the automotive industry, and a number of fine chemicals. Full Article
Arkema SA’s Coatex Finalizes The Acquisition of Acrylic Emulsions site in Brazil
Arkema SA announced that its subsidiary Coatex has finalized the acquisition of an acrylic additives and emulsions production site from Brazilian company Resicryl on October 1, 2012 as scheduled. Financial terms were not disclosed. Full Article
Arkema SA Confirms FY 2012 EBITDA Guidance
Arkema SA announced that it confirms to register EBITDA of close to EUR 1 billion for full year 2012. It also announced that its target for 2016 is to reach EBITDA of EUR 1,250 million and revenue of EUR 8 billion. Full Article
Arkema SA Issues FY 2012 EBITDA Guidance in Line with I/B/E/S Estimates; Announces Targets for FY 2016
Arkema SA announced that it expects EBITDA of close to EUR 1 billion for full year 2012. It also announced that its target for 2016 is to reach EBITDA of EUR 1,250 million and revenue of EUR 8 billion. According to I/B/E/S estimates, analyst on average are expecting the Company to report full year 2012 EBITDA of EUR 961.21 million. Full Article
Arkema SA Announces Acquisition Of Production Site From Resicryl Through Subsidiary
Arkema SA announced a project for the acquisition of an additives and emulsions production site from Brazilian Group Resicryl. Under the terms of the agreement, Arkema would acquire, via its subsidiary Coatex, the Araçariguama production site on the outskirts of Saõ Paulo. The deal should be closed in the second half of 2012. Terms of the transaction were not disclosed. Full Article
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. Full Article
Arkema SA to Finalize Divestment of its Vinyl Products Segment
Arkema SA announced that it finalized on July 3, 2012 its project for the divestment of its Vinyl Products activities to the Klesch group announced in November 2011, and so continues to refocus its business on specialty chemicals. The activities concerned by the project have been grouped within a new company called KEM ONE. Full Article
Arkema SA Invests Over EUR 70 Million in Fluoropolymers in France
Arkema SA announced a project for the development of its Kynar PVDF business in Europe. Over EUR 70 million are to be invested into the Pierre-Benite site in France, in particular to increase Kynar PVDF production capacity by 50%. This capital expenditure plan will help increase by 50% fluoropolymer production capacity in Pierre-Benite by 2014. It also entails the implementation of a high purity process, a new effluent treatment plant, and a contribution to investments for the implementation of the site's technological risk prevention plan. Full Article
Arkema SA Launches EUR 230 Million Bond Issue
Arkema SA announced that it completed the placing of a EUR 230 million bonds issue. This bond loan has an April 30, 2020 maturity and a 3.85% interest rate. This issue has been led by Credit Agricole Corporate and Investment Bank. Full Article
Arkema to book 125 mln euro charge for former unit
PARIS, April 10 - French chemicals maker Arkema will book a first-quarter charge of 125 million euros ($163 million) to reflect its exposure to unprofitable vinyls business Kem One, which it spun off in July 2012, Arkema said on Wednesday.
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