Sika acquires leading acoustics automotive supplier in Germany

Sika acquires leading acoustics automotive supplier in Germany

6:35 AM, 28th November 2017
Sika logo

BAAR, SWITZERLAND: Sika AG has agreed to acquire Faist ChemTec Group, a leading manufacturer of high-performance engineered, structure-borne acoustic solutions for the automotive industry.

Headquartered in Worms, Germany employs 840 people worldwide. The acquisition brings technology and know-how that will accelerate Sika’s growth and drive market penetration via the strong synergies between the two companies.

Faist ChemTec is a renowned company with a trusted brand, comprehensive technical expertise and strong, long-term customer relationships. With six production sites in Europe, North America and Asia, and a pan-European distribution network, it supplies its customers with successful and innovative products. Similar to Sika, its innovations are driven by megatrends such as the increased need for comfort and lightweight construction of vehicles.

“The acquisition fits perfectly with our growth strategy and will significantly enhance our product offerings and technology base for acoustic damping solutions in the automotive market. The manufacturing footprint supports our aim to achieve global reach combined with local presence when serving customers worldwide. We warmly welcome the successful team from Faist ChemTec Group into the Sika family and are excited to work together in the future,” said Paul Schuler, CEO of Sika.

“With the combined product ranges of Faist ChemTec and Sika, we will not only position ourselves as a strong supplier for conventional cars, but will also significantly profit from the megatrend towards electrically driven cars and increase our content per vehicle by more than 20 percent,” added Thomas Hasler, head industry and automotive, Sika.

“The management team is very happy with this strategic move for the company and is looking forward to developing the business further to create more customer value with high-performance products. Sika’s expertise in material technologies will be a great contribution to Faist ChemTec products and further innovations. I would like to thank the L-GAM team for their support over the last few years,” said Christoph Rottges, CEO,  Faist ChemTec.

© 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


Grace licenses UNIPOL technology to Oriental Energy in China

COLUMBIA, US: W R Grace & Co (GRA) has contracted to license its UNIPOL PP process technology to Oriental Energy (Ningbo) New Material Co Ltd ...

Read more
Ineos to supply first ever US ethane to China in 2019

ROLLE, SWITZERLAND: Ineos has announced a long-term supply agreement with SP Chemicals to deliver ethane from US shale gas to China. The agreement, w ...

Read more
Total starts operation at Brazil’s Libra oil field

PARIS, FRANCE: Total SA announced first oil from the Libra mega-field, located in ultra-deep waters 180 kilometers offshore Rio de Janeiro, in the pre ...

Read more
Covestro appoints KION board member as new CFO

LEVERKUSEN, GERMANY: Covestro AG has appointed Dr Thomas Toepfer (45) as the company’s new chief financial officer (CFO). He will take over the ...

Read more
Bayer expands ForwardFarming platform to Latin America

MONHEIM, GERMANY: Bayer AG has expanded its Bayer ForwardFarming network – a knowledge platform for farmers, focused on customized agronomic sol ...

Read more
Total sells two Norwegian oilfields for $1.45 billion

PARIS, FRANCE: Total SA has agreed to sell all of its interests in the Martin Linge field (51 percent) and Garantiana discovery (40 percent) on the No ...

Read more