Arkema S.A. has completed the sale of its Functional Polyolefins business to SK Global Chemical, a subsidiary of South Korean group SK, at around EUR250 million (USD279 million).
The business is comprised of ethylene copolymers and terpolymers for the food packaging, cable, electronics, and coatings markets.
In France, around 100 people are employed and around 30 people are working in an international sales network. They will join SK Global Chemical.
The divestment is part of Arkema’s strategy to refocus the group’s activities on Specialty Materials to be a pure player by 2024. The company will center activity on the three complementary and highly innovative segments of Adhesive Solutions, Advanced Materials, and Coating Solutions.
