French chemicals company Arkema has completed the acquisition of Resicryl's acrylic emulsions production site in São Paulo as it looks to increase its presence in high-growth countries, particularly in Latin America.
The production site that has been acquired, located in Araçariguama on the outskirts of São Paulo, will be part of Coatex which already runs commercial operations in Brazil.
The site's production plants will gradually be developed to manufacture without delay Arkema's full range of rheology additives and waterborne emulsions which serves the cosmetics market.
The acquisition will help Arkema to speed up its development in South America with high added value specialty products. Current Coatex sales in Brazil and those from the new site will generate a turnover of around $20 million.