Sika to Acquire China-Based Silicone Sealants and Adhesives Manufacturer Crevo-Hengxin
Crevo-Hengxin is a family-owned manufacturer of a broad range of silicone products used for solar energy, facades, fenestration, insulated glass, interior finishing, and other sealing and bonding applications.
Sika recently announced that it has agreed to acquire Crevo-Hengxin, a Chinese manufacturer of silicone sealants and adhesives used in both industry and construction applications. With this acquisition, Sika reports that it is expanding its Industry and Sealing & Bonding target markets’ presence in China and the Asia-Pacific region while gaining additional silicone technology and a production footprint.
Crevo- Hengxin reportedly generates sales of CHF 50 million (approximately $50.6 million), with a workforce of 140 employees. The company is a family-owned manufacturer of a broad range of silicone products used for solar energy, facades, fenestration, insulated glass, interior finishing, and other sealing and bonding applications. Crevo-Hengxin is located in Changshu, 50 km north of Suzhou. Operations reportedly 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,” said Mike Campion, Sika Group management. “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.”
For more information, visit www.sika.com.