SIKA ACQUIRES MANUFACTURER OF SILICONE SEALANTS AND ADHESIVES IN CHINA
Sika has agreed to acquire Crevo-Hengxin, a Chinese manufacturer of
silicone sealants and adhesives used in both industry and construction
applications. With this takeover, Sika is expanding its Target Markets
Industry and Sealing & Bonding presence in China and the Asia Pacific
region, and is gaining additional silicone technology plus a production
footprint. Crevo-Hengxin generates sales of CHF 50 million, with a
workforce of 140 employees.
Crevo-Hengxin is a family-owned manufacturer of a broad range of
silicone products used for facades, fenestration, insulated glass,
interior finishing and other sealing and bonding applications. In
addition, the company holds a leading position as supplier of silicones
for the growing solar industry.
Crevo-Hengxin is located in Changshu, 50 kilometers north of Suzhou.
Operations comprise a production facility, a state-of-the-art R & D
Center, a warehouse, and offices.
Mike Campion, Regional Manager Asia/Pacific: "The outlook for the
silicone sealants and adhesive market -- and indeed for our business in
China -- is promising. With the acquisition of Crevo-Hengxin, we will
increase our know-how in this key technology, and expand our local
production capabilities. We can immediately leverage the business
potential of the new product lines by exploiting the cross-selling
synergies offered by Sika's extended distribution channels. We look
forward to a successful joint future, and would like to extend a very
warm welcome to all Crevo-Hengxin employees as they join the Sika team."
SIKA CORPORATE PROFILE
Sika is a specialty chemicals company with a leading position in the
development and production of systems and products for bonding, sealing,
damping, reinforcing, and protecting in the building sector and motor
vehicle industry. Sika has subsidiaries in 101 countries around the
world and manufactures in over 300 factories. With 24,000 employees Sika
expects sales in excess of CHF 8 billion for the fiscal year 2019.
Corporate Communications &
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The media release can be downloaded from the following link:
-- Media Release
(END) Dow Jones Newswires
September 09, 2019 01:00 ET (05:00 GMT)