Sika acquires Chinese silicone sealants adhesives manufacturer

Sika acquires Chinese silicone sealants and adhesives manufacturer

9:51 AM, 9th September 2019
Sika logo

BAAR, SWITZERLAND: Sika AG 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.

“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,” said Mike Campion, Regional Manager Asia/Pacific, Sika.

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Ascensus to acquire leading global producer of boranes, specialty alcoholates

BELLEVUE, US: Ascensus Specialties LLC has signed a definitive agreement to acquire Callery LLC (Callery). Callery is the leading global producer of b ...

Read more
Clariant opens new high throughput experimentation lab in Texas, US

HOUSTON, US: Clariant has opened its next High Throughput Experimentation (HTE) Laboratory in Houston, Texas - the energy capital of US. The location ...

Read more
Johnson Matthey appoints new chief executive for battery material biz

LONDON, UK: Johnson Matthey has appointed Christian Gunther as chief executive of its battery materials business. In this new and important role, Chr ...

Read more
FDA approves Boehringer's lung disease drug

MARYLAND, US: The US Food and Drug Administration on Friday approved German drugmaker Boehringer Ingelheim's Ofev capsules for a rare lung disorder. ...

Read more
DSM appoints new president for DSM Engineering Plastics

SINGAPORE: Royal DSM has appointed Shruti Singhal as President DSM Engineering Plastics, effective 1 October 2019. Shruti, a US national, joined DSM ...

Read more
Clariant’s new CFA masterbatches cut plastics content in packaging by 10%

MUTTENZ, SWITZERLAND: Packaging manufacturers and brand owners trying to reach sustainability goals and reduce costs are expressing keen interest in t ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X