Arkema recently announced that Bostik plans to acquire Prochimir, a company specializing in high-performance thermobonding adhesive films. This acquisition would reportedly enable Bostik to broaden its offering of solvent-free thermobonding solutions earmarked for many fast-growing industrial applications in the automotive, construction, textile, and medical markets.
Prochimir operates two production facilities, one in Vendée, France, and another in Virginia. The company employs 85 people and currently reports sales of €30 million (approximately $33.4 million), with steady growth in the last five years. Prochimir’s solutions are sold around the world; exports account for 75% of sales.
According to Arkema, the acquisition is part of Bostik’s strategy to expand through acquisitions targeting leading technologies in a market that remains fragmented. Closing of the deal is expected in the fourth quarter of 2019, subject to consultation of trade unions and approval by the antitrust authorities in the relevant countries.