Arkema produces oxo alcohols on the Lavéra site (France) in a 50/50 manufacturing joint venture 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 40 million euros.
As part of the program to divest €700 million sales, the Group announces the project to divest to INEOS its stake in Oxochimie, as well as the associated business. Furthermore, INEOS will continue to supply the Group’s acrylic esters units.
The project, due to be finalized early 2017, is subject to an information and consultation process of social work councils and approval of the relevant antitrust authorities.