Sk chemical South Korea acquires akoma Functional Polyolefin business for €335m

Sk global chemical, a subsidiary of SK innovation in South Korea, said on October 15 that it would acquire the Functional Polyolefin related business of French chemical giant akoma and strengthen its competitiveness in the field of packaging, with a capital of 335 million euros. In a press release released on October 14, akoma said that as a part of PMMA's business department (industrial professional department), the annual sales of Functional Polyolefin business is about 250 million euros. The sale is part of the divestiture non strategic business plan launched by akoma in 2015. This is the first time SK innovation subsidiary has acquired European companies. Sk integrated chemical held a board of directors to vote on the acquisition project, and planned to complete the acquisition by the second quarter of 2020. It is reported that SK integrated chemistry will acquire the right to operate three production facilities in France and four products of ethylene acrylate copolymer, ethylene propylene terpolymer, ethylene vinyl acetate copolymer and MAH graft polymer, as well as relevant technologies and personnel through this acquisition.