Arkema SA is acquiring its longstanding partner Agiplast, a leading Italy-based producer of high performance regenerated compounds, in particular specialty nylons and fluoropolymers.
The acquisition further cements the relationship between the two companies, a relationship that gained further momentum in 2019 with the establishment of the Virtucycle program. That project saw the companies collaborating to create a dedicated supply chain from "source to target" through the development of open and closed loops based on post-consumer and post-industrial material for the collection and regeneration of high-performance polymers.
The projected acquisition will enable Arkema to address the growing market for circular materials with a broader offering of more sustainable products.
Arkema, based in Colombes, France, currently offers a range of bio-sourced thermoplastic elastomers and nylon material grades. It has also worked to address the challenges of resource scarcity and end-of-life products through the development of recyclable thermoplastic composite products. Agiplast's know-how in mechanical recycling technologies will allow Arkema to offer high-quality recycled polymers to its portfolio.
The acquisition of Vittoria-based Agiplast is in line with Arkema's sustainable growth strategy, and in particular, the transition to a circular economy, said the company, which claims it will now become the first fully integrated high-performance polymer manufacturer offering both bio-based and recycled materials.
Agiplast has annual sales of around 15 million euros ($18.2 million), operates a plant in Italy and has 32 employees. The deal is expected to close in June 2021.