The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Emmanuel Matot - ODDO BHF Corporate & Markets, Research Division - Analyst
: Several questions from me, please. First, which industrial markets have not yet recovered for Arkema? Second, don't you see any improvement in
fluorogases, except from the basis of comparison? You seem to remain disappointed by Asia and Europe regarding that business, but what about
U.S. also? Third, do you confirm you will launch the EUR 300 million share buyback program in the coming weeks, following the divestment of the
PMMA business last Monday? And my last question, do you remain confident to achieve your ambitious program of acquisitions? How is the pipeline
of opportunities at this time?
Question: Jaideep Mukesh Pandya - On Field Investment Research LLP - Analyst
: Congrats first on inclusion in the ESG Index, Thierry. First question is really around your project with Nutrien. So assuming that this goes through
successfully and you're significantly improving your environmental footprint, will this be a project which will stay with you? Or is this something
that's going to be part of the initial part of fluorogases in your discussions to, whichever way you want to exit the MSA part of fluorogases?
And if you can just talk about what this actually means for PVDF as well, from a food chain environmental point of view, in case it is staying with
you. That's my first question.
The second question is around 1234yf. I know you don't want to talk about fluorogases, but 2023 is when patents expire in the U.S., Europe and
Japan for the 2 big boys, so what's your plan for 1234yf? And have you been -- sorry to use this word -- [chickening] producing a little bit in China
in preparation for entry in 2023 if possible?
And then the third question really is around molecular sieves. I haven't discussed much in recent times about this, but xylene production is going
up, paraxylene production is going up a lot in Asia. So what's the pipeline for molecular sieves in 2021, 2022, 2023?
Question: Jaideep Mukesh Pandya - On Field Investment Research LLP - Analyst
: And just sorry to come back to the Nutrien project. Would you say that at current floor of spot prices, the payback is less than 4 years for the
investment?
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