Swiss specialty chemicals firm Sika has signed an agreement to acquire the Hamatite adhesives business from The Yokohama Rubber Co. The purchase of the unit will bolster Sika’s position in the Japanese construction and automotive markets.
The business’ portfolio includes polyurethanes, hot melts, and modified silicones. It currently operates five production facilities in Japan, Thailand, China, and the US.
“Hematite brings leading technology, know-how, and skilled people that will accelerate Sika’s market penetration in the automotive and construction industries. The global manufacturing footprint will increase our ability to serve our automotive customers worldwide – both at a global and a local level,” said Sika Chief Executive Officer Paul Schuler in a company release.
Anti-trust regulators must clear the transaction before it can proceed. The business brings in annual sales of CHF 160 million, or about $176 million.
“With Hamatite we will significantly expand our network of talented salespeople and customer relationships. In the Japanese market. Together we will provide our custoemrs with an extensive rante of high-quality products and first-class service. In combining our businesses, Sika will pay close attention to the Hamatite corportate culture and respect Japanese business practices,” said Mike Camion, regional manager, Asia Pacific for Sika.
Earlier this month, Powder & Bulk Solids reported that Sika expanded the production capacity of its Doha, Qatar manufacturing plant and began to produce epoxy resins at the site.