Sika recently announced that it has agreed to acquire Hamatite, the adhesives business of The Yokohama Rubber Co., Ltd. Hamatite is reportedly a market leader in Japan, offering adhesives and sealants to the automotive and construction industries. Headquartered in Tokyo, the business generates annual sales of CHF 160 million (approximately $176 million). The transaction is subject to clearance by anti-trust authorities.
Sika expects that the acquisition will significantly strengthen its market position in Japan, increase market access to all major Japanese OEMs, and notably extend the product offering for sealing and bonding applications in the Japanese construction industry. The Hamatite product portfolio comprises technologies such as polyurethanes, hot melts, and modified silicones.
Hamatite operates five plants, the main site being in Hiratsuka, Japan. Additional manufacturing facilities are located in Japan, China, Thailand, and the U.S.
By acquiring Hamatite, Sika's automotive business will immediately benefit from increased market access to all major Japanese OEMs, significantly increasing content per vehicle (CHF sales/vehicle) with these customers globally. In addition to ensuring a seamless business transfer to all valued customers globally, Sika expects to further expand its relationship with and widen its offering for global Japanese car manufacturers when operating in other countries. The combined business will offer an extensive global production footprint, thus delivering long-term supply chain advantages to all automotive OEMs.
In construction, the acquisition will allow Sika to gain market share and become a strong player in the Japanese market. Further, it will extend Sika's range of adhesives and sealants that meet the high Japanese building standards. The widened range of complementary products and expanded customer network will provide the combined business with significant cross-selling opportunities. The strengthened production footprint in Japan will enable the organization to reliably serve the enlarged customer base.
"The acquisition fits perfectly with our Growth Strategy," said Paul Schuler, CEO of Sika. "Hamatite 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. We warmly welcome the successful team from Hamatite into the Sika family and are excited to work together in the future."
According to Mike Campion, Sika's regional manager for the Asia-Pacific region, "With Hamatite we will significantly expand our network of talented sales people and customer relationships in the Japanese market. Together we will provide our customers with an extensive range of high-quality products and first-class service. In combining our businesses, Sika will pay close attention to the Hamatite corporate culture and respect Japanese business practices. We are looking forward to the Hamatite employees joining our team and to developing our joint cross-selling potential."
"I am convinced that Hamatite can foster future business expansion under one of the world's largest specialty chemical companies, Sika," said Masataka Yamaishi, president and chairman of the board of Yokohama Rubber Co., Ltd. "Yokohama will steadily implement our New Medium-Term Business Plan 'Yokohama Transformation 2023' announced on February 19, 2021 by further deepening our existing core businesses."
Learn more about Sika at www.sika.com.