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Sika Acquires Chinese Sealants Manufacturer

Monday, September 30, 2019

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Swiss chemicals company Sika recently announced that it has acquired Chinese silicone sealants and adhesives manufacturer Crevo-Hengxin.

The goal of the acquisition, Sika says, is to expand its Target Markets Industry and Sealing and Bonding presence in China and the Asia Pacific region.

Sika

Swiss chemicals company Sika recently announced that it has acquired Chinese silicone sealants and adhesives manufacturer Crevo-Hengxin.

Crevo-Hengxin is a family-owned business that makes silicone products used for facades, fenestration, insulated glass, interior finishing and other sealing and bonding applications, including the solar industry.

Based in Changshu, operations include a production facility, a research and development center, a warehouse and offices. The company reportedly generates CHF 50 million ($50.3 million) and employs 140 people.

“The outlook for the silicone sealants and adhesive market—and indeed for our business in China—is promising,” said Mike Campion, Regional Manager Asia/Pacific.

“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.”

   

Tagged categories: Acquisitions; Adhesive; Asia Pacific; Business matters; EMEA (Europe, Middle East and Africa); Good Technical Practice; Latin America; Mergers; North America; Sealant; Sika; Silicone; Z-Continents

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