Processing Magazine

Arkema offers to buy Chinese chemical companies

November 22, 2011

PARIS — French chemicals company Arkema SA has offered to buy two Chinese chemical companies for a total $365 million as part of a wider acquisition plan presented in November 2010, MarketWatch reported.

Arkema said it will buy Hipro Polymers and Casda Biomaterials, owned by a joint venture between private equity firm U.S.-based Bain Capital LLC and Chinese firm Feixang Chemicals.

Both companies are likely to report $230 million in sales in 2011 and employ 750 workers.