Arkema is purchasing US-based ArrMaz for $570 million, company officials announced. The deal will help Arkema reach its goal of receiving 80% of its revenues from specialty products by 2023, according to officials with the France-based company.

Harris County, Texas, District Attorney Kim Ogg is prosecuting Arkema and executive Michael Keough, alleging that they shared false safety information about its plant in Crosby, Texas, that endangered first responders and deputies during a 2017 fire related to Hurricane Harvey. Attorneys for Arkema and Keough say the case is an overreach and that the issue at question shouldn't carry criminal charges.

Only an estimated one-tenth of polymethyl methacrylate products are recycled, creating a huge opportunity for the industry to capture and reuse more end-of-life PMMA products, says Arkema executive Jean-Luc Dubois. Arkema is participating in MMAtwo, a four-year project funded by the European Commission that seeks to create a circular economy for PMMA.

Arkema reported a 7.3% year-over-year increase in revenue to $2.17 billion in the third quarter. "Arkema continues to benefit from the quality of its innovation and of its industrial projects in its specialty businesses," says Chairman and CEO Thierry Le Henaff.