We are delighted to have concluded this transaction and look forward to supporting OPM with the capabilities of Arkema's global organization.
Enfield, CT (PRWEB) February 9, 2009
Arkema has announced the acquisition of Oxford Performance Materials, Inc. (OPM), maker of OXPEKK® products. OPM will operate as an Arkema subsidiary from its Enfield, CT headquarters with the established management team. The firm will continue its commercial focus on advanced medical and industrial applications for its proprietary materials. OXPEKK® products are currently used in commercial jetliners, long-term medical implants, and demanding energy applications, including down-hole tools and pumps.
OXPEKK® polyether ketone ketone is a high-temperature and chemically resistant, semi-crystalline thermoplastic with exceptional abrasion resistance and natural flame retardancy. "The addition of OXPEKK® products to Arkema's diverse portfolio complements a set of high-performance plastics than include high-purity Kynar® Rx PVDF, biocompatible Pebax® polyether block amides, medical-grade Plexiglas® PMMA, and food-contact-compliant Biostrength® polymer additives," said Homero Endara, commercial development manager for Arkema, Inc.
"Arkema has had a long-standing interest in ultra-high-performance polymers and we have looked at strategic opportunities in the past. It was our desire to find the right combination of management committed to exploiting the medical and high-tech market space and a product that offered outstanding technical differentiation," said Ryan Dirkx, V.P. of Research and Development for Arkema, Inc. "We are delighted to have concluded this transaction and look forward to supporting OPM with the capabilities of Arkema's global organization."
"OPM has spent nearly ten years perfecting the polyethyl ketone ketone (PEKK) molecule with the help of venture capital," said Scott DeFelice, President and CEO of OPM. "Now with Arkema, we can broaden our industrial strategy and pursue more market opportunities. OPM's single-minded focus on PEKK and Arkema's polymer competencies and capabilities will be a formidable combination in the high-performance polymer marketplace."
Founded in March 2000, OPM has rapidly become an industry leader in the ultra-high performance thermoplastic polymers market. The firm's versatile OXPEKK® polymers are currently being used in medical, space and defense, semiconductor and industrial markets worldwide. OPM is ISO 9001:2000 and ISO 13485:2003 registered. For additional information, please visit http://www.oxfordpm.com.
A global chemical company and France's leading chemicals producer, Arkema consists of three strategically related businesses: Vinyl Products, Industrial Chemicals, and Performance Products. Arkema reported sales of 5.7 billion euros in 2007. Arkema has 15,200 employees across over 40 countries and six research centers located in France, the United States and Japan. With internationally recognized brands, Arkema holds leadership positions in its principal markets.
OXPEKK® is a registered trademark belonging to Oxford Performance Materials, Inc.
Kynar® and Biostrength® are trademarks belonging to Arkema, Inc.
Pebax® is a trademark belonging to Arkema.
Plexiglas® is a trademark belonging to Altuglas International.
# # #