Sika buys PU foam systems manufacturer Polypag
Sika has agreed to acquire Polypag, a Swiss-based manufacturer and developer of polyurethane foam systems, from FLM Holding AG. Financial details were not disclosed. In 2017, Polypag recorded annual sales of approximately CHF 40 million (~ EUR 34.7 million) with a workforce of 120 employees. The company was founded in Altstätten, Switzerland, in 1980. The acquisition encompasses Polypag’s headquarters along with the production site in Altstätten, a research and development centre in Canton Appenzell, and a production site at Landsberg am Lech, Germany. The transaction is subject to approval by the competition authorities.
Ivo Schädler, Sika EMEA Regional Manager, said: “The acquisition of Polypag will significantly strengthen our Sealing & Bonding business. 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. We look forward to a successful shared future and would like to extend a very warm welcome to Polypag employees as they join the Sika team.”
Gottfried J.Peichl, Board of Directors, FLM Holding, commented: “I am extremely pleased to hand over Polypag to Sika and to open up a great development and growth opportunity for the PU activities. I would like to thank all employees for their achievements and wish them and the company every success and a good future.”