Creation of Arkema: a new global chemical player
On October 1, 2004, Total put in place a new organization for its chemical business, marked by the creation of a new unit: Arkema, a new global chemical player. Hence, the chemical division is now divided into 3 business units. - Total petrochemicals (petrochemicals and fertilizers). - Specialties (rubber processing, adhesives, resins an electroplating): chemistry branch of Total. - Arkema (vinyl products, industrial chemicals and performance products, including refrigerants such as FORANE ®): www.arkemagroup.com. The new structure, with Thierry le Henaff as its CEO, has sales of 6.5 billion USD and a workforce of 19300 employees in 90 industrial facilities and 6 research centres throughout Europe, North America and Asia. According to Thierry Desmarest, Chairman and CEO of Total, "Arkema is intended to become a competitive, independent operator by 2006, able to take part in chemical industry consolidation in its area of business".