Sika AG in Baar, Switzerland, has acquired the polyurethane adhesives and systems business of Casco A/S in Fredensborg, Denmark.
Casco is a member of the Akzo Nobel Group, a Dutch manufacturer of healthcare products, coatings and chemicals.
Since polyurethane adhesives are not a core business for Akzo Nobel, the company is selling this business sector including its European organization and the associated production site in Fredensborg to Sika. The transaction becomes effective April 1, 2004.
The business acquired by Sika sells mainly into the automotive engineering, building elements and marine applications markets. With sales of CHF 25 million the principal business consists of 2-component polyurethane adhesives and applications for the manufacture of sandwich panels.
With its acquisition of Casco's polyurethane business Sika strengthens its position in the 2-component polyurethane adhesives market. Sika will sell the newly-acquired products and applications globally through its own distribution channels.
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Company Profile Sika AG
Sika AG, based in Baar, Switzerland, is a leading global supplier of specialty chemicals. Sika offers process materials for sealing, bonding, damping, reinforcing and protecting of load-bearing structures in construction (buildings and infrastructure) and in industry (transportation, automotive, marine and appliances & equipment).
Sika's product line includes concrete admixtures, speciality mortars, sealants, adhesives, speciality acoustic and reinforcing materials, structural strengthening systems, industrial flooring and membranes.
Locally based operations in more than 66 countries with over 8'500 employees connect customers directly with Sika and guarantee for the success of all our partners. With this concept Sika achieves annual sales of approximately CHF 2.3 billion.
Visit the Sika website at www.sika.com.
Company Profile Akzo Nobel
Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products,
coatings and chemicals. Consolidated sales for 2003 totaled EUR 13 billion. The Company currently employs
approximately 64,500 people in more than 80 countries. Financial results for the first quarter will be published
on April 20, 2004.
Internet: www.akzonobel.com
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