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Arkema to Acquire Chinese Renewable Chemical Makers

11:45 AM MST | November 21, 2011 | Deepti Ramesh

Arkema says it will acquire Chinese companies Hipro Polymers (Zhangjiagang, China), a producer of biosourced polyamide-10,10; and Casda Biomaterials (Hengshui, Hebei Province, China), a manufacturer of sebacic acid, derived from castor oil used to manufacture polyamide 10,10, for $365 million. The two companies are predominantly owned by a joint venture between Arkema’s Feixiang Chemicals (Zhangjiagang) unit and private equity firm Bain Capital, Arkema says. Arkema’s Rhodia unit acquired Feixiang Chemicals in 2010. Hipro Polymers and Casda...

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