Arkema, French company announced its partnership with Jurong Chemical, Chinaâ€™s biggest manufacturer of acrylic acid, named Sunke. It represents a new milestone in Arkemaâ€™s growth strategy and the achievement of its 2016 targets, in particular by strengthening the Groupâ€™s position in high growth countries.
The JV, in which Arkema will have a majority interest, comprises the assets of Jurongâ€™s acrylic acid production site in Taixing opened in 2012. This acquisition, in the wake of Arkemaâ€™s recent start-up 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.
Production capacity for Arkema initially will be 1,60,000 tonne per annum (tpa) for a $ 240 million investment, with the option to raise it without delay to 3,20,000 tpa for a further $ 235 million investment. Commissioned in 2012, the Taixing site benefits from an excellent location both to secure its raw materials supply and to serve its customers in China and in Asia. Chinaâ€™s leading acrylic acid production site, it currently has a 3,20,000 tpa installed capacity, with two world-scale production lines.
The competitiveness of this site will be further strengthened by the commissioning of a third line with a 1,60,000 tpa capacity, due to start up in first quarter of 2015. With a 4,80,000 tpa capacity, the Taixing facility will thus become one of the worldâ€™s largest acrylic acid sites.
This partnership will provide the Group with a highly competitive acrylic monomer industrial footprint in Asia.
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