Arkema announces the acquisition by Bostik of CMP Specialty Products, the flooring and floor preparation business of US based specialist CGM.
Arkema announces the acquisition by Bostik of CMP Specialty Products, the flooring and floor preparation business of US based specialist CGM. This business, which generated US$15 million sales in 2016, offers strong synergies with Bostik. This acquisition fits perfectly with Bostik's strategy to expand in the growing US construction market and to offer its customers a complete range of innovative solutions for the flooring market. This acquisition is also fully part of the Group strategy to accelerate its growth in specialty adhesives with bolt-on acquisitions.
Based outside of Philadelphia, PA, CMP's floor preparation systems products offer an advanced range of flooring surface preparation repair patches, leveling compounds and primers for both commercial and residential flooring applications. These products will enable Bostik to accelerate its development in the fast growing floor preparation market.
"We are very pleased to welcome the CMP Specialty Products teams. This acquisition will support our strategy to provide our customers with the most innovative flooring systems. CMP teams will bring their recognized expertise within the commercial flooring sector with high quality and highly performing products. We look forward to leveraging this expertise to better serve our customers within the US market." said Vincent Legros, Bostik Executive Vice President.
Following the acquisition last December of Den Braven, a leader in high performance sealants, Arkema confirms with this new transaction its strategy to actively pursue the development of Bostik, which is one of the core elements of its long term growth.
About Bostik, an Arkema company
Bostik, a subsidiary of the Arkema Group and a global player in specialty adhesives for the construction, consumer and industrial markets, develops innovative and multifunctional sealing and bonding solutions that have been shaping our daily lives for over 130 years. With an annual sales of 2.1 billion euros in 2019 and a presence in more than 40 countries 6,000 employees, the company is committed to meeting the major ecological, energy and technological challenges through its innovations. It is focused on continuous improvement and operational excellence to meet the expectations of its customers and partners. www.bostik.com .
About Arkema
Building on its unique set of expertise in materials science, Arkema offers a world-leading technology portfolio to address ever-growing demand for new and sustainable materials. With the ambition to become in 2024 a pure player in Specialty Materials, the Group is structured into three complementary, resilient and highly innovative segments dedicated to Specialty Materials – Adhesive Solutions, Advanced Materials and Coating Solutions – accounting for some 80% of Group sales, and a well-positioned and competitive Intermediates segment. Arkema offers cutting-edge technological solutions to meet the challenges of, inter alia, new energies, access to water, recycling, urbanization and mobility, and fosters a permanent dialogue with all its stakeholders. The Group reported sales of €8.7 billion in 2019, and operates in some 55 countries with 20,500 employees worldwide. www.arkema.com.