Acquisition of Bostik - Arkema波士胶的收购u2014u2014。阿科玛双氧水有限公司遵循严格的.pdfVIP

Acquisition of Bostik A key milestone in Arkema ’s strategy September 19th , 2014 A perfect opportunity Acquisition of Bostik #3 worldwide in adhesives with €1.53bn sales • Attractive adhesives market • Strong leadership positions, brands and technology know-how • Proven earning resilience • Opportunity followed since several years Full alignment with Arkema’s strategy • Accelerate expansion in High Performance Materials • Reinforce earning stability • Enhance market-driven approach through long-term partnerships, unique technologies and geographical footprint Strong improvement potential • Current margin below peers (10.3%): 14 to 15% long-term EBITDA margin target • Well-identified synergies Strong confidence in execution • In-depth understanding of Bostik business • Common DNA and historical roots within Total • Successful track-record of Arkema in turning around businesses A major step in building a world leader in specialty chemicals 2 Project subject to the authorization of the relevant antitrust authorities and information/consultation of work councils Transaction highlights Bostik key figures €1.53bn sales (2014e) €158m EBITDA and 10.3% EBITDA margin Capex: 3% of sales Value creation Cash accretion from first full year; EPS accretive from 2nd year Acceleration of Bostik growth with strong margin improvement planned Well-identified synergies +30% EBITDA in next 3 years not taking into account development synergies on Arkema current business Considerati