Company will expand Asian plants producing bio-based polyamide, thiochemicals and photocured resins 

French chemical company Arkema plans to increase its focus on speciality chemicals, aiming for the segment to contribute more than 80% of overall sales by 2023.

The company will invest €300 million (£264 million) over five years in bio-sourced polyamide 11 production in Asia. This will fund a new plant to produce 11-aminoundecanoic acid monomer and polyamide resin derived from castor oil.

Arkema will also expand its photocured resins plant in China, adding an extra production line by early 2019. By 2020, the company aims to double methyl mercaptan production capacity at a thiochemicals plant in Malaysia that it revamped in 2015.