Arkema recently announced that it finalized its acquisition of Ashland’s Performance Adhesives Business on February 28, 2022. According to Arkema, the acquisition offers excellent commercial, technological, and geographic complementarities with Bostik, allowing it to expand its solutions offering and position itself as a major player in high-performance industrial adhesives.
Ashland Performance Adhesives supplies pressure-sensitive adhesives, particularly in decorative, protection, and signage films for automotive and buildings, as well as structural adhesives and adhesives for flexible packaging. The business, which employs approximately 330 people and operates six production plants, mainly in North America, generated estimated sales of around $360 million last year.
“We are very happy to welcome Ashland Performance Adhesives’ teams within Arkema,” said Thierry Le Hénaff, chairman and CEO. “I am convinced that Bostik will benefit from this deal to accelerate its development in attractive and high-growth applications. Our strengthened Adhesive Solutions segment will play a key role in implementing our ambition to be a leader in innovative materials for a more sustainable world.”
Ashland reports that it expects net proceeds from the sale to total approximately $1.2 to $1.3 billion. The company will reportedly use the proceeds to invest in the growth of core businesses, as well as optimize its balance sheet and reward shareholders.
“The sale of our Performance Adhesives business completes our journey as a focused additive and specialty ingredients company with leadership positions in life sciences, personal care and coatings,” said Guillermo Novo, Ashland’s chair and CEO. “I am excited about our future and the quality of our additives and specialty ingredients portfolio and our leadership position in the core markets we serve.”