French chemicals company hunts for acquisitions

Seeking acquisitions

The French specialty chemicals company Eliokem, said it is seeking acquisition targets in Europe, Asia and the Americas, following its recent leveraged buyout by Axa Private Equity. Chief Executive Officer, Jacques Collonge, said the aim is to fuel profit growth and extend the scope of the business.

Olivier Faussadier, Director and member of the executive committee, will head the newly formed ventures department, which will prospect for suitable merger and acquisition opportunities.

Eliokem, based in Villejust, near Paris,  employs more than 460 people and owns three production facilities:  at Le Havre, France; Akron, Ohio; and Ningbo, China. The company’s brands and products include Pliolite, Plioway, Pliotec, and Hydro Pliolite, which are resins used in decorative paints; Pliotone, resin for electrographic printing cartridges, photocopiers, and printers; and Pliocord and Chemigum, used in the treatment of textiles, gaskets, and gloves.