PMC ANNOUNCES PURCHASE OF ARKEMA'S TIN STABILIZER BUSINESS
Mount Laurel, NJ (October 3, 2012) - PMC Group N.A., Inc. ("PMC") announced today that it has completed the acquisition of Arkema's global organotin, catalysts and fine chemicals business (the "Business") in the Americas and Europe, on October 1, 2012.
The Business includes Arkema's global organotin and organophosphine-based polymer stabilizers, catalysts and fine chemicals product lines sold under brand names including Thermolite®, Fascat®, Stavinor® and ECHO®. The transaction includes manufacturing sites in Carrollton, Kentucky, and certain assets in Mobile, Alabama. Additionally, Arkema will act as toll manufacturer of certain of these products for PMC using a portion of Arkema's plant in Vlissingen, The Netherlands. The component of this transaction which relates to the Business in China, including a manufacturing facility in Beijing, is expected to be closed during the first half of 2013. The sale also includes Arkema's share in the Stannica™, LLC tin intermediates joint venture. The Business, which holds leading global positions in its key product lines, had revenues of approximately $250 million in 2011.
Commenting on the transaction, Mr. Debtosh Chakrabarti, President of PMC said, "This is another exciting step in the growth story of PMC and we are very encouraged to have Arkema's organometallics team join the PMC Group family. We believe that the customers of the organometallics business will benefit significantly from combining the technology base and experience of the organometallics business with PMC's global capabilities and focus on innovative solutions and technical service."