From European Plastics News
Baar, Switzerland -- Swiss chemicals firm Sika AG is acquiring Biro Edwin Bischof AG, a manufacturer of plastic parts for the automotive industry, for an undisclosed sum.
Romanshorn, Switzerland-based Biro Edwin Bischof already produces components for the automotive industry, for example sound absorbing parts and reinforcers for bodywork structures, for Sika, and generated sales of SwFr 35 million ($42 million) in 2010.
According to Baar-based Sika, Biro has come under increasing pressure in recent years because of the economic crisis but says the acquisition will "put it on a new financial footing."
Sika supplies the European construction, manufacturing and transport industries with sealants, adhesives and other materials, many based on polyurethane. The company generates annual sales of $5300 million.