(PRESS RELEASE) BAAR, 9-Sep-2019 — /EuropaWire/ — Sika expands its Target Markets Industry and Sealing & Bonding presence in China and the Asia Pacific region with the acquisition of Crevo-Hengxin. Sika also will gain additional silicone technology and a production footprint. Crevo-Hengxin is a Chinese manufacturer of silicone sealants and adhesives used in both industry and construction applications. The company generates sales of CHF 50 million.
Family-owned Crevo-Hengxin has a broad range of silicone products used for facades, fenestration, insulated glass, interior finishing and other sealing and bonding applications. It is the leading supplier of silicones for the growing solar industry.
Crevo-Hengxin has a production facility, a state-of-the-art R&D Center, a warehouse, and offices in Changshu. It also has a workforce of 140 employees.
Mike Campion, Regional Manager Asia/Pacific said: “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.”
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SOURCE: Sika AG