Sika has agreed to acquire Crevo-Hengxin, a Chinese manufacturer of silicone sealants and adhesives used in both industry and construction applications.
With this takeover, Sika is expanding its ‘Target Markets Industry’ and ‘Sealing & Bonding’ presence in China and the Asia-Pacific region, and is gaining additional silicone technology plus a production footprint. Crevo-Hengxin generates sales of CHF 50 million (€45.4 million), with a workforce of 140 employees.
Crevo-Hengxin is a family-owned manufacturer of a broad range of silicone products used for façades, fenestration, insulated glass, interior finishing and other sealing and bonding applications. In addition, the company holds a leading position as supplier of silicones for the growing solar industry. Crevo-Hengxin is located in Changshu, 50km north of Suzhou. Operations comprise of a production facility, a state of the art R&D centre, a warehouse, and offices.
“The outlook for the silicone sealants and adhesive market – and indeed for our business in China – is promising. 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,” commented Mike Campion, regional manager Asia-Pacific at Sika.
Source: Fastener and Fixing