Arkema acquires Ashland Performance Adhesives

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CHEMICALS & BIOCHEMICALS

French speciality materials group Arkema has acquired US-based chemicals producer Ashland's Performance Adhesives business.

The acquisition aligns with Arkema’s ambition to become a pure Specialty Materials player by 2024 and focus its development on sustainable and high-performance solutions.

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With its large range of key technologies and well-known brands, Ashland Performance Adhesives is a key player in pressure-sensitive adhesives in the United States, operating in high-growth applications, in particular in decorative, protection, and signage films for automotive and buildings.

Ashland's Performance Adhesives business will strengthen the position of Bostik, the adhesive division of the Arkema Group.

Combined with Bostik’s and Arkema’s coating solutions segment’s sustainable and high-performance solutions, its range will represent one of the most complete offerings in the pressure-sensitive adhesives sector.

“We are very happy and proud of this move", said Thierry Le Hénaff, the Group’s Chairman and Chief Executive Officer. "With an excellent business which holds leading positions in many high-growth segments and a high level of profitability, this project fully aligns with the Group’s targeted acquisition strategy."

"Ashland’s adhesives will constitute a new technological platform for our adhesives and the synergies are particularly high given the geographical and application complementarities with Bostik and our Coating Solutions platform."

Ashland’s Performance Adhesives business, which employs approximately 330 people and operates 6 production plants, mainly in North America, has enjoyed sustained growth in recent years and has significant growth potential in Europe and Asia.

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Combined with Arkema’s global positioning, the technological, geographic and commercial complementarities of this acquisition will enable Bostik to expand its offering and position itself as a major player in high-performance industrial adhesives.

This acquisition also allows the company to upgrade its 2024 profitability target for Arkema’s Adhesive Solutions segment, which now aims for an EBITDA margin above 17%, among the very best in the industry, with sales of over €3 billion.

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