Arkema to purchase majority interest of Jurong Chemical acrylic acid production site in Taixing, China, to accelerate development of its coating solutions segment; initial capacity will be 160,000 tonnes/year for US$240M investment
January 23, 2014
– Arkema and Jurong Chemical, China’s leader in acrylic acid, announce the creation of Sunke, a joint venture in which Arkema will have a majority interest, comprising the assets of Jurong’s acrylic acid production site in Taixing opened in 2012. This acquisition, in the wake of Arkema’s recent startup of its coating resins and Coatex production plants on the Changshu site, will enable the Group to accelerate the development of its Coating Solutions segment in China and in Asia and to assist its customers in particular in fast-growing markets such as superabsorbents, paints, adhesives, water treatment, etc.
It represents a new milestone in Arkema’s growth strategy and the achievement of its 2016 targets, in particular by strengthening the Group’s position in high growth countries. Finally, it provides the Group with a highly competitive acrylic monomer industrial footprint in Asia. Production capacity for Arkema initially will be 160,000 t/year for a $240 M investment, with the option to raise it without delay to 320,000 t/year for a further $235 M investment.