COLOMBES, France, July 01, 2022--(BUSINESS WIRE)--Regulatory News:
On July 1st 2022, Arkema (Paris:AKE) finalized the acquisition of Permoseal in South Africa, a leader in adhesive solutions for DIY, packaging and construction. Permoseal’s well-known brands will complement Bostik’s offering in the region and strengthen its positions in South Africa’s and Sub-Saharan Africa’s dynamic industrial, construction and DIY markets.
Permoseal has a strong presence in South Africa’s retail channels and generated sales of €43 million in 2021. It operates two production plants in the country.
The complementarity of product portfolios will allow Bostik to broaden its customer offering in the South African construction market, and continue its expansion in the region, benefiting in particular from strongly growing demand in the building renovation market. This acquisition will also enable Bostik to consolidate its position in packaging adhesives, and expand its offering of sustainable solutions for the industrial sector in the South African market.
"We are very happy to welcome Permoseal’s teams within Arkema. By strengthening our presence in South Africa in the high growth construction and DIY markets, this operation marks another step in Bostik’s growth ambition. It is also fully aligned with the Group’s strategy to become a pure Specialty Materials player by 2024" commented Vincent Legros, Bostik CEO.
Building on its unique set of expertise in materials science, Arkema offers a portfolio of first-class technologies to address ever-growing demand for new and sustainable materials. With the ambition to become in 2024 a pure player in Specialty Materials, the Group is structured into 3 complementary, resilient and highly innovative segments dedicated to Specialty Materials -Adhesive Solutions, Advanced Materials, and Coating Solutions- accounting for some 85.5% of Group sales in 2021, and a well-positioned and competitive Intermediates segment. Arkema offers cutting-edge technological solutions to meet the challenges of, among other things, new energies, access to water, recycling, urbanization and mobility, and fosters a permanent dialogue with all its stakeholders. The Group reported sales of around €9.5 billion in 2021, and operates in some 55 countries with 20,200 employees worldwide.
A French société anonyme (limited company) with share capital of €742,860,410 – Registered in Nanterre: RCS 445 074 685 Nanterre
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