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.