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.