France-based Arkema has agreed to sell its superabsorbent polymers (SAP) business to Japan’s Sumitomo Seika, subject to the consultation procedure of the Central Works Council.
Under the contract, Arkema will toll-manufacture the polymers on its Carling, France industrial site, which has a 15,000 tonnes per year capacity and generates annual sales of €20m.
The proposed agreement also includes a long-term contract for the supply of acrylic acid produced on the Carling site.
The acquisition is scheduled to become effective on 1 April 2008.
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17 months or two and a half years - which is it?