Abstract
Seeking to recover from a sharp drop in its stock price last year, Kraton is exploring the sale of its Cariflex polyisoprene business. Polyisoprene is used as a nonallergenic substitute for natural latex in products such as condoms and surgical gloves. The business generated 2017 sales of $168 million, about 9% of Kraton’s total. Most of Kraton’s sales come from styrenic-block copolymers and pine chemicals.“Cariflex for the most part is a stand-alone business at Kraton, with minimal revenue or cost overlap with our polymer and chemical segments,” CEO Kevin M. Fogarty says. The business’s strong growth prospects are not reflected in Kraton’s stock price, he says, and it might fit better with another company.Last year was a tough one for Kraton. The company’s stock price tumbled from highs near $50 in September to less than $20 in December as trade woes and recession fears gripped financial markets. Additionally, the company
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