Sika acquires adhesives sealants manufacturer in Brazilian

Sika acquires adhesives and sealants manufacturer in Brazilian

2:11 AM, 31st August 2011
Sika acquires adhesives and sealants manufacturer in Brazilian

 

Sika has agreed to acquire Colauto Adesivos e Massas Ltda, a manufacturer of adhesives and sealants as well as acoustic damping and structural reinforcement elements for Latin America’s fast-growing automotive and transportation industry. Colauto generated sales of CHF 40 million in 2010 with a workforce of approximately 250.

BAAR, SWITZERLAND: Sika group will acquire Colauto Adesivos e Massas Ltda in Sao Paolo, Brazil, a leading supplier of chemical process materials for the automotive industry in Latin America. Colauto operates a production site in Sao Paulo with a workforce of approximately 250.

Latin America’s automotive industry has a high growth potential and significance of Brazil as car manufacturing country continues to increase. Sika will gain access to this key growth market and be able to expand its global position. “Brazil is currently the world’s sixth-largest automotive-producing country. Our customers here expect a broad cost-effective product portfolio containing latest technologies for all car segments,” said Thomas Hasler, Head of Automotive Global, Sika.

“With its production site in Sao Paulo, Colauto will become the new development centre for Sika Automotive in Latin America,” added Hasler.

(C) WOC News

 

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