SOUTH AFRICA – French-based chemicals and advanced materials company, Arkema has completed the acquisition of Permoseal, a leader in adhesive solutions for DIY, packaging and construction in South Africa.
Permoseal’s well-known brands will complement Bostik’s (Adhesive Solutions segment of the Arkema) offering in the region and strengthen its positions in South Africa’s and Sub-Saharan Africa’s dynamic industrial, construction and DIY markets.
Permoseal has a strong presence in South Africa’s retail channels and generated sales of US$44.59 million in 2021. It operates two production plants in the country.
The complementarity of product portfolios will allow Bostik to broaden its customer offering in the South African construction market, and continue its expansion in the region, benefiting in particular from strongly growing demand in the building renovation market.
This acquisition will also enable Bostik to consolidate its position in packaging adhesives and expand its offering of sustainable solutions for the industrial sector in the South African market.
“We are very happy to welcome Permoseal’s teams within Arkema. By strengthening our presence in South Africa in the high-growth construction and DIY markets, this operation marks another step in Bostik’s growth ambition,” said Vincent Legros, CEO of Bostik.
“It is also fully aligned with the Group’s strategy to become a pure Specialty Materials player by 2024.”
Building on its unique set of expertise in materials science, Arkema offers a portfolio of first-class technologies to address the ever-growing demand for new and sustainable materials.
With the ambition to become in 2024 a pure player in Specialty Materials, the Group is structured into 3 complementary, resilient and highly innovative segments.
These segments are dedicated to Specialty Materials -Adhesive Solutions, Advanced Materials, and Coating Solutions- accounting for some 85.5% of Group sales in 2021, and a well-positioned and competitive Intermediates segment.
Arkema offers cutting-edge technological solutions to meet the challenges of, among other things, new energies, access to water, recycling, urbanization and mobility, and fosters a permanent dialogue with all its stakeholders.
The Group reported sales of around US$9.85 billion in 2021 and operates in some 55 countries with 20,200 employees worldwide.
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