Baar, Switzerland -- Industrial Copolymers, which makes high-performance resins and polymers for the coatings, adhesives and sealants industries, has been bought by Sika Group. Baar, Switzerland-headquartered Sika is a billion-dollar turnover global company, with subsidiaries worldwide, making a range of speciality chemicals for construction and industry.
Neither side revealed any financial details of the purchase.
"Industrial Copolymers is an innovative company that has continued to grow its UK and export markets for some time now," said Alex Bleibler, head of Sika's contractor-related business and a member of Sika's Management Group, in a company statement. "By taking its technology and marketing skills, and adding Sika's knowledge and experience of the global arena we can achieve great things."
Since 1986 Industrial Copolymers' product range has been exported globally. Products include oxazolidines, waterborne epoxy curing agents and waterborne polyurethane dispersions. The company was previously owned by the Iotech Group and has a sister company - Incorez - in the US. As of 26 Jan 2009 Sika took ownership of the entire group.
"We are confident that the acquisition will open new doors for us and allow expansion that would otherwise not have been possible," said Jeremy Gorick, managing director of Iotech, in a statement on the deal.
Industrial Copolymers has had significant growth in the last five years, and claims to have become "the world's leading manufacturer of specialist oxazolidine additives for the polyurethane coatings and sealants markets."
The polymer supplier will continue to trade as Industrial Copolymers, with day-to-day business unchanged for the immediate future, the company said.