Bostik Acquires Floor Preparation Systems from CGM, Inc. in the US
Arkema announces the acquisition by Bostik of CMP Specialty Products, the flooring and floor preparation business of US based specialist CGM. This business, which generated US$15 million sales in 2016, offers strong synergies with Bostik. This acquisition fits perfectly with Bostik's strategy to expand in the growing US construction market and to offer its customers a complete range of innovative solutions for the flooring market. This acquisition is also fully part of the Group strategy to accelerate its growth in specialty adhesives with bolt-on acquisitions.
Based outside of Philadelphia, PA, CMP's floor preparation systems products offer an advanced range of flooring surface preparation repair patches, leveling compounds and primers for both commercial and residential flooring applications. These products will enable Bostik to accelerate its development in the fast growing floor preparation market.
"We are very pleased to welcome the CMP Specialty Products teams. This acquisition will support our strategy to provide our customers with the most innovative flooring systems. CMP teams will bring their recognized expertise within the commercial flooring sector with high quality and highly performing products. We look forward to leveraging this expertise to better serve our customers within the US market." said Vincent Legros, Bostik Executive Vice President.
Following the acquisition last December of Den Braven, a leader in high performance sealants, Arkema confirms with this new transaction its strategy to actively pursue the development of Bostik, which is one of the core elements of its long term growth.
About Bostik Bostik is a leading global adhesive specialist in construction, consumer and industrial markets. For more than a century, it has been developing innovative adhesive solutions that are smarter and more adaptive to the forces that shape daily lives. From cradle to grave, from home to office, Bostik’s smart adhesives can be found everywhere. With annual sales of €1.95 billion, the company employs 6,000 people and has a presence in more than 50 countries. For the latest information, visit www.bostik.com.
About Arkema A designer of materials and innovative solutions, Arkema shapes materials and creates new uses that accelerate customer performance. Our balanced business portfolio spans high-performance materials, industrial specialties and coating solutions. Our globally recognized brands are ranked among the leaders in the markets we serve. Reporting annual sales of €7.5 billion in 2016, we employ approximately 20,000 people worldwide and operate in close to 50 countries. We are committed to active engagement with all our stakeholders. Our research centers in North America, France and Asia concentrate on advances in bio-based products, new energies, water management, electronic solutions, lightweight materials and design, home efficiency and insulation. www.arkema.com
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