Arkema Acquires Italian Peroxide Producer Oxido
To bolster its already strong position in the peroxides market, French chemical producer Arkema has acquired Oxido, an Italy-based specialist in the formulation of organic peroxides used in the crosslinking of rubber and plastics, as well as initiators for polyester resins and hardeners.
The acquired company generates annual sales of around €20 million.
Arkema said the deal offers significant synergies. Along with an ongoing project to increase production capacity in China by early 2016, the company said adding Oxido's products to its portfolio will allows it to offer an even more extensive range of products for growing sectors such as cable, automotive and construction.
The acquisition, which widens Arkema's manufacturing site for organic peroxides to 12 worldwide, is also expected to help support the downstream integration of its organic peroxide productions in Europe, in particular for bis-peroxide. Capacity expansions for this product were recently increased in Spinetta, Italy as well as at Franklin, Virginia, in the US.
"This acquisition reinforces our European integration structure and our leadership in organic peroxides around the Spinetta and Günzburg plants, ideally complemented by the expertise of Oxido's Anagni plant, a centre of excellence in organic peroxide formulation," said Jean Saint-Donat, director Europe for Arkema's organic peroxide Business.