Baar, Switzerland – Sika is to acquire Polypag, a Swiss manufacturer and developer of polyurethane foam systems. Sika claims the acquisition will enhance its expertise in polyurethane foam development, and expand both its product portfolio and production capacity.
Polypag recorded annual sales of CHF 40m ($40 m) in 2017, and employs 120. Included in the deal are Polypag’s headquarters and production site in Altstatten, an R&D centre in Canton Appenzell, and a production site in Landsberg am Lech, Germany.
‘The acquisition of Polypag will significantly strengthen our sealing and bonding business,’ said Ivo Schadler, Sika’s EMEA regional manager. ‘The combined technological and development expertise will open up new cross-selling opportunities. Moreover, by expanding the specialist trade business we will drive forward market penetration and establish growth platforms for both companies.’
The deal is subject to approval by the competition authorities.