Sika has agreed to acquire Polypag, a leading Swiss-based manufacturer and developer of polyurethane foam systems. This acquisition will enhance Sika's expertise in the area of polyurethane foam development, expand its product portfolio and production capacity, and drive forward the specialist trade business. Last year, Polypag recorded annual sales of some CHF 40 million with a workforce of 120 employees. The transaction is subject to approval by the competition authorities.
Polypag was founded in Altstätten, Switzerland, in 1980. Today the company is a leading supplier of specialist foam systems, and has positioned itself as a strong specialist trade partner with an impressive product range. Foams based on polyurethane are construction materials used whenever something is insulated, sealed, bonded, or fitted. They are used in professional construction applications such as building shells, building structures, and building protection, as well as in the DIY market. The transaction encompasses Polypag's headquarters along with the production site in Altstätten, a research and development center in Canton Appenzell, and a production site at Landsberg am Lech, Germany.
Ivo Schädler, Sika EMEA Regional Manager: "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: "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."
CONTACT
Dominik Slappnig
Corporate Communications &
Investor Relations
+41 58 436 68 21
slappnig.dominik@ch.sika.com
SIKA AG CORPORATE PROFILE
Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry. Sika has subsidiaries in 101 countries around the world and manufactures in over 200 factories. Its more than 18,000 employees generated annual sales of CHF 6.25 billion in 2017.
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