Arkema Group said it plans to divest its Sunclear plastic and aluminum sheet distribution business to BF Invest, a historical commercial partner of Sunclear.
Sunclear distributes sheet and panel products made from PMMA, polycarbonate, PVC and other plastics, as well as aluminum. The company operates predominantly in France, but also has distribution outlets in Spain and Italy.
Sunclear's annual sales are about 180 million euros ($205.3 million) and it has an enterprise value of 105 million euros ($119.8 million), said Arkema. It has 354 employees in France, Italy and Spain.
The divestment plan will be presented to the Arkema France Central Works Council on June 25.
The sale is part of a restructuring within Arkema that will see it divest units accounting for 700 million euros ($798.6 million) in sales to refocus on its core business.