French speciality chemicals group Arkema said that it plans to buy polyamide producer Hipro Polymers and sebacic acid leader Casda Biomaterials for $365m.
The two acquisitions are part of a plan to add up to €1bn to its annual sales, Arkema said.
The deal will strengthen Arkema's position in the speciality bio-sourced polyamides sector.
By acquiring Casda Biomaterials, Arkema will benefit from sebacic acid integrated feedstock for the production of polymer PA10.10.
The transaction is subject to approval by the Chinese authorities, and should be finalised by early 2012.
