Successful strategy to improve profitability across cycles and increase profits from high-growth countries since the 2006 spin-off. Leading market positions, and adequate product and geographic diversification. Conservative financial policy, moderate debt, strong liquidity, and long-ended debt maturity profile. Exposure to swings in demand, GDP, industry conditions, and energy and feedstock prices. Capital intensity and industry competition. The ratings on French chemical producer Arkema S.A. reflect Standard&Poor's Ratings Services' opinion of its "satisfactory" business risk profile and "intermediate" financial profile. Arkema's sales reached €6.8 billion in the 12 months ended Sept. 30, 2011, and derived from three segments: industrial chemicals (65% of third-quarter 2011 EBITDA before central and other costs), performance products (39%), and polyvinyl chloride (PVC) activities (0%).
