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%). The company recently announced the disposal of its PVC business, which it expects will be finalized by mid-2012. The industrial chemicals segment comprises a wide variety of mostly commodity and intermediate chemicals, such as acrylics, polymethylmethacrylate (PMMA), thiochemicals, fluorochemicals, and hydrogen peroxide. Arkema's satisfactory business risk profile factors in our view that management has been successful
