Thursday, 29 October 2009

Arkema a good fit for Solvay?

Two businessmen shaking hands, close-up
Could Belgian chemical group Solvay be interested in a bid for French rival Arkema? There are certainly some excellent potential synergies, especially in the fluorochemicals and chlor-alkali chain.

Solvay recently agreed to sell its pharma division for E4.5bn to Abbott, giving Solvay net liquidity of E2.5bn according to some estimates. Analysts told ICIS news recently that Solvay would look to expand in Asia. Arkema has a strong portfolio of chemical projects in Asia and sees it as a key growth region.

Solvay has market capitalisation of E5.7bn whilst Arkema is worth Arkema is worth E1.65bn.

Reuter's suggests Clariant and Umicore might be good targets. "There are rumours of a bid by Solvay for Umicore if Solvay sells its pharmaceutical division. This is pushing the share price up," Kristof De Graeve at SG Private Banking says, according to the blog cafepharma

Arkema product portfolio:

VINYL PRODUCTS
* Chlorine / Caustic Soda
* Pipes and Profiles (Alphacan)
* PVC
* Vinyl Compounds
INDUSTRIAL CHEMICALS
* Acrylics
* Fluorochemicals
* Hydrogen Peroxide
* PMMA (Altuglas International) and Methacrylics
* Specialty Acrylic Polymers (Coatex)
* Thiochemicals
PERFORMANCE PRODUCTS
* Functional Additives
* Specialty Chemicals (Ceca)
* Technical Polymers


Solvay product portfolio:

Plastics:
Aromatic Polyamides
Engineering Polymers
Fluorelastomers
Fluorinated Fluids
Fluoropolymers
Other Semi-crystallines
Sulfone Polymers
Ultra Polymers
Vinyls

Chemicals:
BARIUM STRONTIUM
- CALCIUM CHLORIDE
- CAUSTIC SODA
- CHLORINATED INORGANICS
- CHLORINATED ORGANICS
- FLUOR
- FLUOR ORGANICS
- HYDROGEN PEROXIDE
- INORGANIC PEROXIDES
- ORGANICS
- PERACETIC ACID
- PERSALTS
- POLYGLYCEROLS
- PRECIPITATED CALCIUM CARBONATE & MG SALTS
- SODA ASH
- SODIUM BICARBONATE

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