Bostik, a subsidiary of Arkema Group, to increase investment in China
French chemical group Arkema announced that its subsidiary Bostik planned capital increase of RMB 400 million (€ 54 million) in Minhang District, Shanghai. According to Ms. Sun Zhaowen, general manager of Bostik China, the plan will be used to invest in mergers and acquisitions of new businesses, research and development of new products, and continue to contribute to local economic benefits.
Ms. Zhang Xiaoyu, president of Arkema Greater China, said: “China is a crucial consumer market for Arkema. For a long time now, Arkema has been investing in China and expanding its business footprint. We have always been confident in China’s development prospects. At the same time, Minhang District Government has always been committed to promoting a high level of opening up to the outside world, creating an international business environment for our multinational companies. Bostik (Shanghai) Management Co., Ltd. and Shanghai Arkema Hydrogen Peroxide Co., Ltd. are located in Minhang District. Both have achieved solid development and organic growth, which has also created the strong attractiveness of this market.”
Bostik was acquired by Arkema Group in 2015 and became the specialty adhesives business segment of the group. As early as 2012, Bostik (Shanghai) Management Co., Ltd. has settled in Xinzhuang Industrial Zone, and was recognized as a management regional headquarters and a foreign-invested R&D center. Bostik has now production plants in Shanghai, Guangzhou and Changshu respectively, and through continuous development and provision of products and solutions for industrial production, construction and consumption, the company satisfies the booming markets needs in China and Asia.
