COLOMBES, France—Arkema S.A. has strengthened its High Performance Materials segment with another acquisition.
Fresh off its acquisition of Bostik S.A., the firm has acquired Oxido s.r.l., a manufacturer of organic peroxides based in Anagni, Italy. The firm also produces initiators for polyester resins and hardeners, with sales of about $22 million.
Arkema said this acquisition—combined with its project to increase organic peroxide production capacities in China set for completion in early 2016—strengthens its position in the market and offers a more extensive range of products for growing sectors like cable, automotive and construction.
Oxido will also help support downstream integration of its organic peroxide productions in Europe, highlighting bis-peroxide. Arkema said it launched projects in 2013 to increase bis-peroxide production at its Spinetta, Italy; and Franklin, Va., facilities.
Arkema said it now manufactures organic peroxides in 12 sites worldwide. The firm employs 19,000 in nearly 50 countries with research centers in North America, France and Asia.
The formal Total S.A. unit produces chemicals worldwide and recently finalized its nearly $2 billion acquisition of Bostik, which will also be part of its High Performance Materials segment.