Last week, news from Sika regarding its acquisition in China drew the most reader interest (Sika to Acquire China-Based Silicone Sealants and Adhesives Manufacturer Crevo-Hengxin): “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…’”
Have you seen all of the recent industry acquisitions? They’ve been coming fast and furious in the last few months!
Top 5 News that Sticks for September 15-21
- Sika to Acquire China-Based Silicone Sealants and Adhesives Manufacturer Crevo-Hengxin
#3 last week
- Henkel to Debut Electric Vehicle Battery Material Solutions at the Electric & Hybrid Vehicle Technology Expo
#1 last week
- Coatex Realigns Distribution of Additives in North America
- Putatunda and Chen Join IGM Resins’ Energy Curing Resins Leadership Team
- PPG Selected for DOE Partnership to Speed Development of Adhesives for Lightweight Vehicles
This weekly roundup highlights the adhesives, sealants, and coatings-related news stories that garnered the most attention during the previous week on our website, as well as our eNewsletters and social media platforms.