Arkema has restructured its business as part of its bid to generate €8bn ($10.3bn) in 2015 and become a world leader in the specialty chemicals sector.
The French firm – whose pharmaceutical business includes solvents used in API production, amines, hydrazine derivatives and organic peroxides – announced its growth plans at an investor day it held in Paris earlier this month.
The new growth plan – which will also see Arkema try and achieve sales of €10bn by 2020 – is to expand through acquisitions like Hipro Polymers and Casda Biomaterials earlier this year and by focusing on key end-markets and countries offering a strong potential for development.
“Sales growth should be balanced between organic growth - supported by innovation in sustainability and geographical expansion in high growth countries with a more balanced approach between China, India, Brazil and Middle-East - and bolt-on acquisitions.”
The firm also said it would restructure into three new business segment: high performance Materials; industrial Specialties and coating solutions.
In response Credit Suisse said it “welcomes the confidence displayed by the management and the changes in the chemistry group,” and reiterated its “overweight” rating, or buy recommendation.
The firm did not respond to a request for additional information ahead of publication.
Arkema’s other healthcare related business involves resin products that are used in various coating applications. At present in the pharmaceutical sector this predominantly involves single-use bioprocessing and biomanufacturing technologies.
However, the French firm may be looking more at medical devices in the future. It recently announced plans to attend medical device trade event Medtec China.
Arkema said it will be presenting its range of polyamide polymers that are polyamides that are used extensively in technologies like vascular catheters and balloons, as well as dental floss and breathing equipment.