Sika (Baar, Switzerland) has agreed to acquire Hamatite, the adhesive business of The Yokohama Rubber Co., Ltd. (Minato, Tokyo, Japan). The acquisition of Hamatite, which offers adhesives and sealants to the automotive and construction industries, will strengthen Sika’s market position in Japan by increasing access to original equipment manufacturers (OEMs) and the construction industry. The transaction is subject to clearance by antitrust authorities.
“The acquisition fits perfectly with our Growth Strategy,” says Paul Schuler, CEO of Sika. “Hamatite brings leading technology, know-how, and skilled people that will accelerate Sika’s market penetration in the automotive and construction industries. The global manufacturing footprint will increase our ability to serve our automotive customers worldwide—both at a global and a local level. We warmly welcome the successful team from Hamatite into the Sika family and are excited to work together in the future.”
With annual sales of CHF 160 million (~177 million USD), the Hamatite business is regarded as a leading brand in the Japanese automotive and construction industries. Its product portfolio includes polyurethanes, hot melts, modified silicones, and various technologies. The Hamatite brand is a preferred solution among regional OEMs for glass bonding and hot melt applications, while the construction industry favors its sealing and bonding solutions for exterior facades.
“With Hamatite we will significantly expand our network of talented sales people and customer relationships in the Japanese market,” says Mike Campion, Sika’s regional manager for the Asia/Pacific region. “Together we will provide our customers with an extensive range of high-quality products and first-class service. In combining our businesses, Sika will pay close attention to the Hamatite corporate culture and respect Japanese business practices. We are looking forward to the Hamatite employees joining our team and to developing our joint cross-selling potential.”
The acquisition of Hamatite will benefit Sika’s automotive business by increasing market access to major Japanese OEMs, thereby increasing content per vehicle (CHF sales/vehicle) with these customers globally. Sika expects to further expand its working relationships with both global Japanese car manufacturers as well as expand its production footprint for OEMs in other countries. In addition, the acquisition will allow Sika to gain market share in the Japanese construction market by extending its range of adhesive and sealants that can meet the country’s high building standards.
“I am convinced that Hamatite can foster future business expansion under one of the world’s largest specialty chemical companies, Sika,” says Masataka Yamaishi, president and chairman of the board of Yokohama Rubber Co., Ltd. “Yokohama will steadily implement our New Medium-Term Business Plan ‘Yokohama Transformation 2023’ announced on February 19, 2021 by further deepening our existing core businesses.”
Source: Sika Group, www.sika.com.