The French oil, chemicals and drugs group, Elf Aquitaine, plans to increase its strength in Asia and the US through speciality chemicals acquisitions .
Most operations will probably be relatively sma…
The French oil, chemicals and drugs group, Elf Aquitaine, plans to increase its strength in Asia and the US through speciality chemicals acquisitions . Most operations will probably be relatively small, and aimed at completing the company“s portfolio. But Mr Philippe Jaffre, chairman, has made clear that a purchase worth FFr 10-15 billion could not be ruled out. “Perhaps one day we will have the opportunity in the US or Asia to take a more significant step,” he said. “We now have the capacity to take on enough debt for a real project.” Areas in which the company is likely to be interested include acrylics in North America, and fluorine chemicals, sulphur-based chemicals and adhesives in Asia. Elf is engaged in a strategic shift from bulk chemicals towards speciality products. It wants two-thirds of its chemicals business to be in speciality products by the year 2000, compared to 50% in 1995.