Arkema, a specialty chemicals and advanced materials company, completed the acquisition of the performance adhesives business of Ashland, a global specialty materials company serving customers in a wide range of consumer and industrial markets, for $1.65bn. “The acquisition of Ashland’s adhesives business is a fantastic opportunity to reinforce the Group’s presence in the US and to accelerate Bostik’s growth. With an excellent business which holds leading positions in many high-growth segments and a high level of profitability, this project fully aligns with the Group’s targeted acquisition strategy. The cultures of the teams are very close, focused on customer centricity and sustainable innovation. We look forward to welcoming Ashland’s high-caliber management team and to partner together for this highly value creative deal," Thierry Le Hénaff, Arkema Chairman and CEO.