French chemicals group Arkema has announced its intention to acquire Italian business Agiplast.
Agiplast has annual sales of €15 million (£13 million) and operates a plant in Italy.
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Its experience in mechanical recycling will enable Arkema to offer high quality polymers to its customers, along with its bio-based Virtucycle polymer.
Arkema said that this acquisition, expected to be completed in June, will make it the first fully integrated performance polymer manufacturer offering both bio-based and recycled materials.
