M&As: Arkema acquires Agiplast; Sika acquires adhesives/sealants business in Japan

M&As: Arkema acquires Agiplast; Sika acquires adhesives/sealants business in Japan

French materials firm Arkema plans to acquire Agiplast, a company specialising in the regeneration of high performance polymers and its historical partner in recycling operations. The company, with annual sales of around EUR15 million, operates a plant in Italy and has 32 employees. Agiplast’s know-how in mechanical recycling technologies will enable Arkema to offer high quality recycled polymers to its customers.

In October 2019, Arkema launched Virtucycle, an ambitious programme with Agiplast aimed at developing loops for the collection and regeneration of high performance polymers while minimising CO2 emissions.

With the planned acquisition of Agiplast, a supplier of regeneration of high performance polymers, in particular specialty polyamides and fluoropolymers, Arkema says it will be able to offer a full service to customers in terms of materials circularity, addressing growing market expectations in this field. This project, which contributes to the sustainable development of the polymer industry, is also in line with Arkema’s sustainable growth strategy.

With this acquisition, Arkema will be the first fully integrated high performance polymer manufacturer offering both bio-based and recycled materials in order to address the challenges of resource scarcity and end-of-life products. This bolt-on acquisition is thus in line with Arkema’s CSR and sustainable growth strategy, and in particular the transition to a circular economy.

The deal is expected to close in June 2021.

Meanwhile in other news, Sika has agreed to acquire Hamatite, the adhesives business of The Yokohama Rubber Co. Hamatite offers adhesives and sealants to the automotive and construction industries. Sika adds the acquisition will significantly strengthen its market position in Japan, increase market access to all major Japanese OEMs, and notably extend the product offering for sealing and bonding applications in the Japanese construction industry. Headquartered in Tokyo, the business generates annual sales of CHF160 million. The transaction is subject to clearance by anti-trust authorities.

Hamatite’s product portfolio comprises various technologies such as polyurethanes, hot melts, and modified silicones. The well established Hamatite brand is the preferred solution among the Japanese OEMs for glass bonding as well as for hot melt applications. The main application area in the construction industry is sealing and bonding solutions for exterior facades. Hamatite operates five plants, the main site being in Hiratsuka, Japan. Additional manufacturing facilities are located in Japan, China, Thailand, and in the US.

By acquiring Hamatite, Sika’s automotive business will immediately benefit from increased market access to all major Japanese OEMs, significantly increasing content per vehicle (CHF sales/vehicle) with these customers globally. Besides ensuring a seamless business transfer to all valued customers globally, Sika expects to further expand its relationship with and widen its offering for global Japanese car manufacturers when operating in other countries. The combined business will offer an extensive global production footprint, thus delivering long-term supply chain advantages to all automotive OEMs.

In construction, the acquisition will allow Sika to gain market share and become a strong player in the Japanese market. Furthermore, it will extend Sika’s range of adhesives and sealants that meet the high Japanese building standards. The widened range of complementary products and expanded customer network will provide the combined business with significant cross-selling opportunities. The strengthened production footprint in Japan will enable the organisation to reliably serve the enlarged customer base.


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