Sika agreed to acquire Hamatite, the adhesives business of The Yokohama Rubber Co.
Hamatite, based in Japan, offers adhesives and sealants to the automotive and construction industries. The acquisition will significantly strengthen Sika’s 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, say company officials. Headquartered in Tokyo, the business generates annual sales of $175 million. The transaction is subject to clearance by anti-trust authorities.
Paul Schuler, CEO of Sika, says, “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.”
Hamatite has built up long-lasting relationships with both Japanese automotive OEMs as well as customers in the construction sector and is seen as a reliable, long-term business partner, according to the company. The product portfolio comprises various technologies such as polyurethanes, hot melts, and modified silicones. 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 the U.S.
Masataka Yamaishi, president, chairman of the board of Yokohama Rubber Co., says, “I am convinced that Hamatite can foster future business expansion under one of the world’s largest specialty 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.”
In construction, the acquisition will allow Sika to gain market share and become a strong player in the Japanese market, say officials. Furthermore, it will extend Sika’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 organization to reliably serve the enlarged customer base.
