Arkema recently announced that the divestment of its polymethyl methacrylate (PMMA) business to Trinseo has been finalized. Following the announcement made on December 14, the teams at Arkema and Trinseo have carried out all the steps leading to the closing of the transaction.
The divested business, which employs around 860 people and operates seven production sites (four in Europe and three in North America), joins Trinseo, a company specialized in the production of plastics, synthetic rubber, and latex binders. The net proceeds of the divestment, based on an enterprise value of about €1.1 billion (approximately $1.3 billion), will take into account a capital gains tax estimated at around 15% of this amount.
According to Arkema, the divestment represents another major step in its transformation, with the ambition to become a pure player in sustainable and innovative specialty materials by 2024, focused on the three complementary segments of Adhesive Solutions, Advanced Materials, and Coating Solutions.