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.
Having joined the magazine in 2012, Claire developed her knowledge of the industry through the numerous company visits, exhibitions and conferences she attended both in the UK and abroad.
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