French Arkema intends to buy an American company
Arkema Chemical Corp. has announced plans to acquire an American floor adhesive company, XL Brands. This announcement was published yesterday, November 6, on the manufacturer’s portal.
Such a purchase will cost the French company $ 205 million. The glue producer will replenish the assets of Bostik, subsidies of which belong to a corporation specializing in the production of waterproofing products.
The American company XL Brands is a true leader in its country for the production of floor glue. In Georgia, the company opened a new complex for the production of this material. Among the whole assortment, the company is also famous for its environmentally friendly products, as well as materials created by innovative ways.
According to the French company, such a deal will help Bostik to position itself in the US market and take a leading position among manufacturers of glue. Such an acquisition is strategically thought out and allows you to realize what was planned. So, by 2023, the sale of glue should exceed ⅓ of all sales of the corporation.
The deal should be completed by the end of 2017.
