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Arkema has announced a project for the sale to INEOS of its 50% stake in Oxochimie, its oxo alcohols manufacturing joint venture (JV) and the associated business, as part of a programme to divest €700M sales. Arkema produces oxo alcohols on the Lavéra site (France) in a 50/50 manufacturing JV with INEOS. These products are used, in part, for the production of the Group’s acrylic esters in Europe. They are also sold on the free market for annual sales of some €40M.
INEOS will continue to supply the Group’s acrylic esters units. The project is due to be finalised early 2017, subject to approval of the relevant antitrust authorities.
