Sika: Acquisition of the adhesives business of Yokohama Rubber
Sika has agreed to acquire Hamatite, the adhesives business of The Yokohama Rubber Co., Ltd. Hamatite is a market leader in Japan, offering adhesives and sealants to the automotive and construction industries. According to Sika, the acquisition will strengthen its market position in Japan, increase market access to all major Japanese OEMs, and notably extend the product offering for sealing and bonding applications in the Japanese construction industry. Headquartered in Tokyo, the business generates annual sales of CHF 160 million (~EUR 145 million). The transaction is subject to clearance by anti-trust authorities.
Hamatite’s product portfolio comprises various technologies such as polyurethanes, hot melts, and modified silicones. The well established Hamatite brand is said to be the preferred solution among the Japanese OEMs for glass bonding as well as for hot melt applications. The main application area in the construction industry is sealing and bonding solutions for exterior facades. Hamatite operates five plants, the main site being in Hiratsuka, Japan. Additional manufacturing facilities are located in Japan, China, Thailand, and in the USA.
By acquiring Hamatite, Sika’s automotive business will immediately benefit from increased market access to all major Japanese OEMs, significantly increasing content per vehicle (CHF sales/vehicle) with these customers globally. Sika expects to further expand its relationship with and widen its offering for global Japanese car manufacturers when operating in other countries. The combined business will offer an extensive global production footprint, thus delivering long-term supply chain advantages to all automotive OEMs, said the company.
In construction, the acquisition is expected to allow Sika to gain market share and become a strong player in the Japanese market. Furthermore, it will extend the company’s range of adhesives and sealants that meet the high Japanese building standards. The widened range of complementary products and expanded customer network will provide the combined business with significant cross-selling opportunities. The strengthened production footprint in Japan will enable the organisation to reliably serve the enlarged customer base.
Paul Schuler, CEO of Sika, said: “The acquisition fits perfectly with our Growth Strategy. 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.”
Masataka Yamaishi, President, Chairman of the Board of Yokohama Rubber, said: “I am convinced that Hamatite can foster future business expansion under one of the world’s largest speciality chemical companies, Sika. 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.”