NOTE F17 Cash flows from investing activities – acquisition/disposal of assets and investments
- Index
- 12 NOTE F12 Depreciation, amortization and impairments
- 13 NOTE F13 Other non-operating and non-cash items
- 14 NOTEF14 Income taxes
- 15 NOTE F15 Changes in working capital
- 16 NOTE F16 Changes in provisions
- 17 NOTE F17 Cash flows from investing activities – acquisition/disposal of assets and investments
- 18 NOTE F18 Equity
- 19 NOTE F19 Other cash flows from financing activities
- 20 NOTE F20 Cash flow from discontinued operations
2017 |
Acquisitions |
Disposals |
Total |
|||
Subsidiaries |
(44) |
891 |
846 |
|||
Other |
(11) |
|
(11) |
|||
Total investments |
(55) |
891 |
836 |
|||
Property, plant and equipment/Intangible assets |
(822) |
75 |
(746) |
|||
Total |
(877) |
966 |
89 |
2016 |
Acquisitions |
Disposals |
Total |
|||
Subsidiaries |
(23) |
144 |
120 |
|||
Other |
(2) |
6 |
4 |
|||
Total investments |
(26) |
150 |
124 |
|||
Property, plant and equipment/Intangible assets |
(981) |
76 |
(904) |
|||
Total |
(1,006) |
226 |
(780) |
In 2017
The acquisition of subsidiaries (€(44) million) is related mainly to the acquisition of European Carbon Fiber GmbH (€(16) million), Energain (€(13) million), and post-acquisition payments related to Cytec (€(17) million).
The disposal of subsidiaries (€891 million) is related mainly to the disposal of Acetow (€734 million), Emerging Biochemicals (€180 million), Cross Linkable Compound (€62 million) and Formulated Resin (€38 million). The balance is mainly composed of amounts paid for prior years disposals without impact on the 2017 income statement (Inovyn (€(79) million), BASF (€(22) million), and Indupa (€(19) million).
The acquisition of property, plant and equipment and intangible assets (€(822) million) relates to various projects:
- Composite Materials: expansion of adhesive capacity in Wrexham (United Kingdom),
- Peroxides: construction of a 60Kt H2O2 plant at Zhengiang (China),
- Special Chem: new eH2O2 plant in Rosignano (Italy) and in Zhengiang (China),
- Specialty Polymers: investment in Fluorelastomers and PVDF in Changshu (China),
- Specialty Polymers: investment in Polyetheretherketone (PEEK) capacity (United States),
- Specialty Polymers: new production unit dedicated to Polyethersulfone (PESU) in Panoli (India).
In 2016
The acquisition of subsidiaries (€(23) million) related mainly to the acquisition of Primester (€(33) million) in 2016. The balance is related to prior year acquisitions: Cytec (€(44) million), release of the Chemlogics holdback (€74 million), and Erca Emery Surfactant (€(16) million).
The disposal of subsidiaries (€144 million) related mainly to the disposal of Inovyn (€335 million) and Indupa (€(157) million).
The acquisition of property, plant and equipment and intangible assets (€(981) million) related to various projects:
- Composite Materials: expansion of adhesive capacity in Wrexham (United Kingdom),
- Composite Materials: new resin infusion facility in Ostringen (Germany),
- Peroxides: build-up of a megaplant H2O2 joint operation in the Kingdom of Saudi Arabia with Sadara (JV Dow-Aramco),
- Peroxides: construction of a 60Kt H2O2 plant at Zhengiang (China),
- Peroxides: H2O2 capacity expansion in Longview (United States),
- Silica: build-up of new highly dispersible silica (HDS) plant in Gunsan (South Korea),
- Special Chem: new eH2O2 plant in Rosignano (Italy),
- Specialty Polymers: investment in Fluorelastomers and PVDF in Changshu (China),
- Specialty Polymers: investment in Polyetheretherketone (PEEK) capacity (United States).