Press Release: SIKA ACQUIRES MANUFACTURER OF SILICONE SEALANTS AND ADHESIVES IN CHINA

SIKA ACQUIRES MANUFACTURER OF SILICONE SEALANTS AND ADHESIVES IN CHINA

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, with a

workforce of 140 employees.

Crevo-Hengxin is a family-owned manufacturer of a broad range of

silicone products used for facades, 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, 50 kilometers north of Suzhou.

Operations comprise a production facility, a state-of-the-art R & D

Center, a warehouse, and offices.

Mike Campion, Regional Manager Asia/Pacific: "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."

SIKA CORPORATE PROFILE

Sika is a specialty chemicals company with a leading position in the

development and production of systems and products for bonding, sealing,

damping, reinforcing, and protecting in the building sector and motor

vehicle industry. Sika has subsidiaries in 101 countries around the

world and manufactures in over 300 factories. With 24,000 employees Sika

expects sales in excess of CHF 8 billion for the fiscal year 2019.

CONTACT

Dominik Slappnig

Corporate Communications &

Investor Relations

+41 58 436 68 21

slappnig.dominik@ch.sika.com

The media release can be downloaded from the following link:

-- Media Release

https://ml-eu.globenewswire.com/Resource/Download/46e20001-5afa-4063-9279-fb57ebf0d896

(END) Dow Jones Newswires

September 09, 2019 01:00 ET (05:00 GMT)