Kraton selling latex business to Daelim

Abstract

Kraton has agreed to sell its Cariflex polyisoprene business to South Korea’s Daelim Industrial for $530 million. Polyisoprene is a nonallergenic substitute for natural latex in products such as condoms and surgical gloves. The Cariflex business had sales of $180 million and before-tax profit of $50 million in 2018. Kraton has said it is selling the business because its value isn’t reflected in the firm’s stock price. With the sale, Kraton will focus on its core areas of styrenic block copolymers and pine chemicals.