SK Global Chemical, a major chemicals player in South Korea and a subsidiary of SK, the large South-Korean corporation, agreed to acquire the Functional Polyolefins business of Arkema, a specialty chemicals and advanced materials company headquartered in Colombes, near Paris, for €335m. Offering a highly complementary fit with SK Global Chemical’s existing portfolio of activities, Arkema’s Functional Polyolefins would enable the company to consolidate its position in the packaging market and enter new industrial markets such as cable manufacturing.