Freudenberg-NOK expands PTFE seal product range by acquiring High Quality Plastics
- Publisher
- Elsevier Science
- Year
- 2002
- Tongue
- English
- Weight
- 148 KB
- Volume
- 2002
- Category
- Article
- ISSN
- 1350-4789
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✦ Synopsis
Germany's Henkel Group has made two acquisitions which strengthen its adhesives businesses in Spain and the US.
The group, which is based in Düsseldorf, has taken over Solyplast SA of Barcelona, Spain, a manufacturer of adhesives and sealants.
By purchasing Solyplast, Henkel says that it is not only strengthening its market position but also acquiring expertise that ideally complements its existing business. Furthermore, this acquisition gives it an opportunity to grow in this area, and in other regions.
Founded in 1973, Solyplast is one of Spain's leading sealants companies. It has 42 employees, and had sales of some 14.6 million in 2001.
The German group has also acquired the North American subsidiary of Japan's Cemedine Co Ltd. Based in Oak Creek, Wisconsin, Cemedine USA Inc serves the automotive industry.
According to Ramon Bacardit, Corporate Vice President of Henkel Surface Technologies, this acquisition we will help the company to expand its adhesives and sealants portfolio to specifically serve Japanese car manufacturers that are operating in the North American markets.
Cemedine USA generated sales of over US$33 million in fiscal 2001, and employs 86 people. Since late 1999, the two companies have been developing, manufacturing and marketing adhesives and sealants for the automotive industry in their joint-venture company Cemedine Henkel Co Ltd, which is based in Tokyo, Japan.
In the first half of fiscal 2002, the Henkel Group generated sales of 4.9 billion, and an operating profit of 330 million. It employs 46 818 people worldwide.