Arkema

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Arkema S.A.
Type Société Anonyme
Traded as EuronextAKE
Industry Chemical industry
Founded 2004
Headquarters Colombes, France
Key people Thierry Le Hénaff (Chairman and CEO)
Products Acrylics, synthetic resins, PVC, polymers, hydrogen peroxide, vinyl compounds, pipes, PMMA, HCFCs and chlorine compounds
Revenue 5.905 billion (2010)[1]
Operating income €486 million (2010)[1]
Profit €347 million (2010)[1]
Total assets €4.818 billion (end 2010)[1]
Total equity €2.240 billion (end 2010)[1]
Employees 13,900 (end 2010)[1]
Subsidiaries Alphacan, Altuglas International, Arkema Inc., Ceca, Coatex, MLPC International, Oxford Performance Materials, Resinoplast
Website www.arkema.com

Arkema is a leading Specialty Chemicals and Advanced materials Company headquartered in Colombes, near Paris, France.[2]

Created in 2004 when French oil major Total restructured its Chemicals business, Arkema was introduced at the Paris stock exchange in May 2006. With a turnover of 6.5 Billion €, Arkema has 14,000 employees in more than 40 countries, 10 research centers worldwide, and a total of 85 production plants in Europe, North America and Asia.[2]

Arkema is organized into three business segments: Coating solutions, Industrial Chemicals and Performance Products.[3]

History[edit]

Arkema was created when French oil major Total restructured its chemicals business. The restructuring was a gradual process that began many years earlier:

1971: Creation of Aquitaine Total Organico (ATO), a joint Elf-Total subsidiary. Creation of Produits Chimiques Ugine Kuhlmann (PCUK).
1973: Creation of ATO Chimie.
1980: Creation of Chloé Chimie (40% Elf Aquitaine, 40% Total and 20% Rhône-Poulenc).
1983: Creation of Atochem - Chemical production in France is reorganized around Atochem, a wholly owned Elf Aquitaine subsidiary incorporating the activities of ATO Chimie, Chloé Chimie and most of PCUK.
1990: Chemical production is again reorganized in France: Orkem’s petrochemicals, styrenics, fertilizers and acrylics businesses are integrated into Atochem, while specialties (resin and paint) move to Total. Acquisition of Montedison’s organic peroxide business.
1992: Atochem becomes Elf Atochem.
2000: Creation of Atofina by merging TotalFina and Elf’s chemical businesses following the two companies’ 1999 merger.
2004: Creation of Arkema on October 1.
2006: Arkema IPO on the Paris Bourse on May 18 [4]
2007: Arkema sells its agrochemical activities (CEREXAGRI)[5] and its formaldehyde activities [6]
2007: Arkema acquires Coatex company (specialty acrylic polymers)
2010: Arkema acquires acrylic Dow assets in the US [6]
2011: Arkema acquires Total coating resins (Cray Valley and Sartomer)[7]
2011 : in June, Arkema joined the CAC Next 20 French stock market index.[8]
2012: Arkema acquires Chinese Company Hipro Polymers (producer of bio-Polyamides) and Casda Biomaterials (producer of plant raw materials)[9]
2012 : in July, Arkema sold for 1 symbolic euro its vinyl products business segment to the Klesch group[10] for reasons of profitability, but also to recenter its operations exclusively on specialty chemicals. As part of this divestment, Arkema made a 100 million euro cash payment to the Klesch group and took on debts amounting to 470 million euros to help revive the activity. In response to fears of redundancy and to protests from employees at a number of production sites, the trade unions negotiated, with the Arkema management, industrial and social guarantees as well as support measures designed to protect the rights of employees should the Klesch group implement redundancies following their take-over of the vinyl products activities. Hence two trust funds of €20 M were set up to secure compensation payments and the rights of employees of the companies that were sold off.[11]
2012 : as part of its strategic refocusing on specialty chemicals, Arkema acquired a new visual identity as well as a new signature "Innovative Chemistry".[12]

Organization[edit]

Since Arkema sold its Vinyl product segment in July 2012, Arkema reorganized its activities into three business segments. High Performance Materials, Industrial Specialties and Coating Solutions. Each of these segments represent one third of Arkema’s turnover.[13]

High Performance Materials[edit]

High Performance Materials segment gathers four high value added product lines: Specialty polyamides, Fluoropolymers (PVDF), molecular sieves for filtration and adsorption and organic peroxides.

Its flagship brands are Rilsan(polyamide 11), Luperox(Organic Peroxide), Kynar (PVDF), Siliporite (Molecular Sieves).[10]

Usine Arkema de Pierre Bénite

Industrial specialties[edit]

Industrial Specialties segment produces major chemical intermediates such as thiochemicals (for animal nutrition, gas natural odorant), fluorochemicals (for refrigeration, air conditioning, blowing agent for insulating foam), PMMA (or arcylic glass for furnitures, automotive applications, noise barriers), and hydrogen peroxide (pulp and textile bleaching, chemical synthesis, water treatment).[10]

The business segment’s flagship brands include Altuglas[14] (PMMA), Albone[15] (hydrogen peroxide), DMDS[16] (agricultural fumigant) and Forane[17] (refrigerants).

Coating Solutions[edit]

Starting from upstream acrylic monomers, the Group has built a presence across every segment of the coating market. Its portfolio of coating materials and technologies includes waterborne, solventborne, powder coating resins and additives from Arkema Coating Resins, rheology additives for waterborne coatings from Coatex and photocure resins for optic fibers, graphic arts, electronics, etc. from Sartomer. Its flagship brands are Envia, Rheotec, Sarbio.[10]

Subsidiaries[edit]

Altuglas International[edit]

Logo

Altuglas International has eight production facilities — three in Europe, four in North America, and one in South Korea. It manufactures and markets four product lines: acrylic resins, Altuglas BS acrylic beads, acrylic sheets.[18]

Coatex[edit]

Coatex produces rheological additives for aqueous formulations. It has six production facilities, in France, the Netherlands, the United States (South Carolina), South Korea, China and Brazil.[19]

CECA[edit]

Logo

CECA produces of specialty chemicals, such as Noroplast, Cecabase, and Acticarbone

CECA comprises seven business units: · Additives for the Oil and Gas Industry and Oilfield Chemicals. · Diatomite and Perlite-Based Filter Aids and Filtering Solutions. · Activated Carbon. · Molecular Sieves. · Specialty Surfactants. · Febex Specialty Phosphors. · Asphalt Additives.[20]

MLPC International[edit]

Logo

MLPC International specializes in the chemistry of carbon sulfide, cyanogen chloride and amines.

Arkema worldwide[edit]

Locations[edit]

Arkema operates through industrial facilities in Europe, North America and Asia and marketing subsidiaries in around 40 countries.

Arkema has 85 production facilities worldwide, including 44 in Europe, 26 in North America, 10 in Asia, and 5 in the rest of the world.

Arkema has 10 research centers worldwide: 5 in France (Lacq, Serquigny, Lyon, Carling and Verneuil), two in the United States (Cary, North Carolina and King of Prussia, Pennsylvania) and one in Japan (Kyoto).[21]

Distribution of turnover, activity and manpower by region
North and South America 34% of sales
26 plants
20% of the workforce
Europe 40% of sales
44 plants
62% of the workforce
Asia and Middle East 21% of sales
10 plants
16% of the workforce
Rest of the World 5% of sales
2% of the workforce

Sales by region[1][edit]

Most of Arkema’s sales are generated in Europe, which accounts for 40% of the total. North and South America represents 34% of sales.

Arkema has had a strong presence in China for over 13 years. Asia alone now accounts for 26% of sales.[10]

Research and development[edit]

Research and development spending totaled roughly 150 millions euros, with half allocated to “green chemistry.” Arkema employs more than 1,200 researchers, whose work focuses on two main areas: ultra-high performance polymers and sustainable development solutions.

Arkema has made sustainable development a central focus of its R&D strategy, introducing a broad array of innovative materials to help customers reduce their energy use, increasing its use of renewable feedstock, developing nanostructured materials and devising the processes of the future.[22]

Management organization[edit]

Thierry Le Hénaff is Chairman of the Board of Directors and CEO of Arkema.

Board of directors[23][edit]

Arkema currently has a nine-member Board of Directors. Eight directors are deemed independent.

  • Thierry Le Hénaff, Chairman and Chief Executive Officer, Arkema.
  • François Enaud, Chairman and Chief Executive Officer, Stéria S.A.
  • Bernard Kasriel, partner and member of the Management Board, LBO France.
  • Laurent Mignon, Chief Executive Officer, Natixis S.A.
  • Thierry Morin, Chairman of the Board of Directors, French National Institute for Industrial Property (INPI).
  • Marc Pandraud, Chief Country Officer of France, Deutsche Bank.
  • Jean-Pierre Seeuws, retired chemical industry executive.
  • Philippe Vassor, Chairman, Baignas S.A.S.

Executive committee[23][edit]

The executive committee ensures the company’s strategy is implemented, examines important issues concerning organization and major projects, and approves capital expenditure. It also tracks the performance of all Arkema businesses.

The Chairman has set up an eight-member Executive Committee to help manage the company:

  • Thierry Le Hénaff, Chairman and Chief Executive Officer.
  • Bernard Boyer, Executive Vice President, Strategy.
  • Michel Delaborde, Executive Vice President, Human Resources and Corporate Communications.
  • Pierre Chanoine, Executive Vice President, Performance Products.
  • Thierry Lemonnier, Chief Financial Officer.
  • Marc Schuller, Executive Vice President, Industrial Chemicals.

Financial performance[1][edit]

Arkema generates sales of €6,5 billion, broken down as follows:[10]

  • High Performance materials, 33%.
  • Industrial Specialties, 33%.
  • Coating Solutions, 34%.

Arkema’s net debt in 2012 is €1,1Md that corresponds to a gearing of 50%.[24]

Shareholder structure[edit]

As of 31 December 2010, the major stockholders of Arkema (owning at least 5% of capital declared to AMF) were Greenlight Capital (5,5%), Dodge & Cox (5.2%), Groupe Bruxelles Lambert (10%).[25]

Since January 1, 2012, the level of 5% reported to AMF was passed by:

  • FMR LLC (Fidelity Management & Research): declares having +5% of Arkema capital (August 23, 2012);[26]
  • Groupe Bruxelles Lambert: sold all its shares in the capital (March 14, 2012);[27]
  • Individual shareholders: 9,4 0% ;
  • Group employees : 5,5% ;

References[edit]

  1. ^ a b c d e f g h "Annual Report 2010" (PDF). Arkema. Retrieved 18 November 2011. 
  2. ^ a b "Arkema confirms its 2016 ambition and presents its roadmap to 2020". Reuters.com. 2012-09-18. Retrieved 2013-01-20. 
  3. ^ "Organization". Arkema.com. 2012-07-02. Retrieved 2013-01-20. 
  4. ^ "Arkema History". Arkema.com. 
  5. ^ "einpresswire.com". Arkema. 
  6. ^ a b "Arkema sells its Urea Formaldehyde Resins business to Hexion". Chemeurope.com. 2007-05-30. 
  7. ^ "Arkema Completes Acquisition of TOTAL's Coatings Resins and Photocure Resins". pcimag.com. 2011-09-01. 
  8. ^ "2011 annual and sustainable development report". Arkema. 2011. 
  9. ^ "France’s Arkema aims €10bn sales, about 17% EBITDA margin in 2020". ICIS.com. 
  10. ^ a b c d e f "France's Arkema to sell vinyl segment to Klesch Group". icis.com. 2011-11-23. 
  11. ^ "Arkema confirms vinyl unit sale to Klesch Group". reutersmedia.net. 2011-11-23. 
  12. ^ "Arkema acquires a new visual identity". sartomereurope.com. 2012-09-18. 
  13. ^ "Arkema outlines future growth plans, splits operations into three businesses". Chemweek.com. 2012-09-20. Retrieved 2013-01-20. 
  14. ^ "Altuglas International". Altuglasint.com. Retrieved 2013-01-20. 
  15. ^ "Homepage, Hydrogen Peroxide, Sodium Chlorate, H2O2". Brighten Your Future. Retrieved 2013-01-20. 
  16. ^ "DMDS for agricultural soil fumigation". Arkema. Retrieved 2013-09-06. 
  17. ^ "Forane® Refrigerant - Fluorochemicals". Arkema. Retrieved 2013-01-20. 
  18. ^ "Global Home Page". Altuglas.com. Retrieved 2013-01-20. 
  19. ^ "Rheology, Coating Color, Dispersing agent". Coatex. Retrieved 2013-01-20. 
  20. ^ "CECA, chimie de spécialités, filiale du groupe arkema : CECA en bref". Ceca.fr. Retrieved 2013-01-20. 
  21. ^ "Our Company - Overview". Arkema. Retrieved 2013-01-20. 
  22. ^ "Innovation - An organization in which the innovation is the byword". Arkema.com. Retrieved 2013-01-20. 
  23. ^ a b http://www.arkema.com/pdf/EN/finance/ddr09_va.pdf
  24. ^ "Arkema (AKE:EN Paris)". Investing.businessweek.com. Retrieved 2013-01-20. 
  25. ^ "Publications". Arkema.com. Retrieved 2013-01-20. 
  26. ^ "ARKEMA: FMR LLC OWNS 5.03% OF THE VOTING RIGHTS, AMF SAYS". Bloomberg.com. 
  27. ^ "Belgium's GBL sells 10 percent stake in Arkema". Reuters.com. 

External links[edit]