Page 37 - Plastics News March 2022

BUSINESS NEWS

SIG registers 14.5% revenue increase for FY21 Arkema buys Ashland’s
Performance Adhesives
business for $1.65bn

rkema has closed its previously an-
Anounced acquisition of Ashland’s
Performance Adhesives business for
around $1.65bn in an all-cash trans-
action. Arkema chairman and CEO
Thierry Le Henaff said: “We are very
happy to welcome Ashland Performance
Adhesives’ teams within Arkema. “I am
wiss aseptic packaging provider December, SIG’s total revenue grew by convinced that Bostik will benefit from
SSIG has reported total revenue of 13.3% on a constant currency basis to this deal to accelerate its development
€2.06bn ($2.28bn) for the fiscal year €589.3m from the same period of 2020. in attractive and high-growth appli-
2021 (FY21), a 14.5% increase on a The company’s net income for the quar- cations. “Our strengthened Adhesive
constant currency basis from the year ter increased from €11.8m to €43.7m Solutions segment will play a key role
s2020.On a like-for-like (LFL) basis year-on-year. SIG CEO Samuel Sigrist in implementing our ambition to be a
at constant currency, the total revenue said: “In 2021, we sustained strong leader in innovative materials for a more
sustainable world.” The company signed
increase was 6.2%.SIG’s core revenue revenue growth throughout the year. an agreement to acquire Ashland’s busi-
increased 15% at constant currency “Our performance globally not only ness in August last year. Ashland’s Per-
to €2.06bn, while its LFL change was reflects the resilience of our business – formance Adhesives business supplies
6.6%.The company’s net income for the it is also testimony to our teams, who a wide range of adhesives for flexible
year grew to €172.1m, up from €68m a have worked tirelessly to ensure flawless packaging and pressure-sensitive ad-
year earlier. SIG registered an adjusted service and an ongoing stream of in- hesives for various markets, including
decorative labels, protection and signage
net income of €252.4m, compared¬¬ novation for customers. “The excellent films for automotives and buildings.
with €232.3m in FY20. Driven by rev- performance of SIG in 2021 is a strong The business operates a network of six
enue growth and net contribution of foundation for the two recently an- production plants, most of which are lo-
€33.7m from the consolidation of its nounced acquisitions that will broaden cated in North America, and has around
Middle East and Africa (MEA) busi- and strengthen our leadership in sus- 330 employees. Last year, the business
generated an estimated $360m in sales
ness, the company saw its adjusted earn- tainable packaging solutions for liquid and an earnings before interest, tax, de-
ings before interest, taxes, depreciation food and beverages.” For FY22, SIG ex- preciation and amortisation (EBITDA)
and amortisation (EBITDA) grow from pects its revenue to grow by 22-24% at margin above 25%. According to He-
€498.3 in 2020 to €570.6 in 2021. In constant currency levels and its adjusted naff the deal is in line with Arkema’s
the fourth quarter, which ended on 31 EBITDA margin to be around 26%. strategy to deal exclusively in speciality
materials by 2024.

37 PLASTICS NEWS March 2022