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Chinese biopolymer supplier finds French owner

Arkema (Colombes, France) has finalized the acquisition of Chinese companies Hipro Polymers (Suzhou, Jiangsu Province), a producer of specialty bio-sourced polyamide (PA) 10.10, and Casda Biomaterials (Hengshui, Hebei Province), the world's leading producer of sebacic acid processed from castor oil.

Arkema (Colombes, France) has finalized the acquisition of Chinese companies Hipro Polymers (Suzhou, Jiangsu Province), a producer of specialty bio-sourced polyamide (PA) 10.10, and Casda Biomaterials (Hengshui, Hebei Province), the world's leading producer of sebacic acid processed from castor oil. Hipro Polymers was formerly a joint venture of Feixiang Chemicals (Zhangjiagang, Jiangsu Province) and Bain Capital (Boston, MA). Bain also had an interest in Casda Biomaterials.

jiangsu

Arkema augments polyamide position in China with dual acquisition of local players.

"This acquisition represents a large development potential for Arkema. It offers significant growth drivers for our high-tech polyamides, and will help us become the only chemical manufacturer in the world to offer the full range of polyamides 10, 11 and 12," stated Thierry Le Hénaff, Arkema Chairman and Chief Executive Officer. "Positioned in the green chemistry sector, this acquisition of companies in China fits in well with the growth strategy conducted by the Group in the last five years."

By adding Hipro Polymers' PA10.10 to its existing high performance polymer portfolio, Arkema is strengthening its world leading position in specialty bio-sourced polyamides, which currently enjoy 15-20% annual growth. Arkema's strong reputation and application know-how in end-markets will help speed up the development of Hipro Polymers, in particular in transportation (automotive, trucks), renewable energies, and electronics. Hipro Polymers' site, near Shanghai, will see its polyamide production triple from mid-2012. Commercial production initially commenced in October 2009.

Hipro Polymers also offers PA 6.10, 6.12, 10.12, 11, and 211. The PA 10.12 resin is 45% bio-based. Most of its product contain 40-100% bio-renewable resources.

With Casda Biomaterials, Arkema benefits from integrated feedstock for the production of PA10.10 and, through this strategic intermediate, will supply diversified world markets including plasticizers, as well as the fast-growing bio-sourced and biodegradable polymers market. Casda Biomaterials has been operating a new production line since 2010, using a reliable and competitive process, located in a new industrial zone south of Beijing. The company's website reports production capacity of 23,000 tonnes/year.-[email protected]

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