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Announced

Sika acquired China-based Crevo-Hengxin.

Synopsis

Sika, a specialty chemical company, acquired China-based Crevo-Hengxin, a manufacturer of silicone sealants and adhesives used in both industry and construction applications. Financial terms were not disclosed. "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." Mike Campion, Sika Regional Manager Asia/Pacific.

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