Trinseo, a US-based multinational manufacturer of plastics has announced to have inked a strategic agreement for the acquisition of Arkema’s PMMA business on Monday. The deal is worth USD 1.36 billion and is expected to close by mid-2021 after the authentic approval by the antitrust authorities and the concerned representative bodies of Arkema. The deal is in line with Trinseo aim to step into the global PMMA market and with Arkema’s vision to become a complete specialty chemical player by 2024.
The divestment upon completion will enable Arkema to prominently secure its foothold in specialty chemicals by gradually reducing its other intermediate share. Supporting the transaction, the president of Trinseo commented that acquisition of Arkema PMMA unit will assist the company to transform into a less cyclical solution provider with higher margins.
As PMMA businesses of Arkema has delivered attractive gains in historical years, the personnel expressed that this is a prominent step to value-aid its business portfolio in line with its desired goals. As per ChemAnalyst, “Since Arkema’s PMMA is a valuable plastic business encapsulating various end-user markets, it is perceived to enable Trinseo to consolidate prevalent revenues in the global market in the coming years.”