Sika has agreed to acquire Polypag, a leading Swiss manufacturer and developer of polyurethane foam based composites. The acquisition will strengthen its expertise in the field of polyurethane foam development, expand its product portfolio and production capacity, and promote the development of professional trading businesses. Last year, Polypag had annual sales of about 40 million Swiss francs and 120 employees. The transaction is subject to approval by the competition authority.
Polypag was founded in Altstetten, Switzerland in 1980. Today, the company has become a leading supplier of professional foam composites and positions itself as a strong professional trading partner with a premium product line. Polyurethane-based foam is a building material that can be used for insulation, sealing, bonding or assembly. They have their professional uses in the construction field, such as for building envelopes, building structures, building protection, and the DIY market. The acquisition includes the acquisition of Polypag's headquarters, a production site in Altstetten, a research and development center in Appenzell, and a production site in Landsberg am Lech, Germany.
Ivo Schadler, Sika's regional manager for Europe, the Middle East and Africa, said: "The acquisition of Polypag significantly enhances our sealing and bonding business. The combined expertise of both parties in technology and R & D will lead to new cross-selling opportunities. In addition, by expanding Professional trade business, we will promote market penetration and establish a growth platform for the two companies. We look forward to a successful and win-win future. We also warmly welcome Polypag employees who join the Sika team.
Gottfried J. Peich, director of FLM Holdings, said: "I am very happy to hand over Polypag to Sika to bring a huge opportunity for development and growth in the PU business. I want to thank all employees for their achievements and wish them and the company a win A successful and beautiful future. "