Sika has agreed to acquire Faist ChemTec Group
OREANDA-NEWS. Sika has agreed to acquire Faist ChemTec Group, a leading manufacturer of high-performance engineered, structure-borne acoustic solutions for the automotive industry. Headquartered in Worms, Germany, the company generates annual sales of CHF 190 million and employs 840 people worldwide. The acquisition brings technology and know-how that will accelerate Sika's growth and drive market penetration via the strong synergies between the two companies. The transaction is subject to clearance by anti-trust authorities.
Faist ChemTec is a renowned company with a trusted brand, comprehensive technical expertise and strong, long-term customer relationships. Founded more than 100 years ago, Faist ChemTec is a pioneer in the production of high-performance engineered structure-borne acoustic solutions. With six production sites in Europe, North America and Asia, and a pan-European distribution network, it supplies its customers with successful and innovative products. Similar to Sika, its innovations are driven by megatrends such as the increased need for comfort and lightweight construction of vehicles.
Faist ChemTec has strong technology and process know-how in modified bituminous and rubber based extruded products for the structure-borne noise management in the automotive industry. Its lightweight, multi-layer leading edge damping solutions allow car makers to design lightweight cars without compromising on acoustic comfort while reducing the carbon footprint overall. Sika's strength in air-borne noise treatments and reinforcing parts is perfectly complemented by these acquired technologies, resulting in the availability of a full range of solutions for Sika customers. In addition, Sika will gain knowledge in acoustic technology for the white goods market and the construction industry.
Paul Schuler, CEO of Sika: "The acquisition fits perfectly with our growth strategy and will significantly enhance our product offerings and technology base for acoustic damping solutions in the automotive market. The manufacturing footprint supports our aim to achieve global reach combined with local presence when serving customers worldwide. We warmly welcome the successful team from Faist ChemTec Group into the Sika family and are excited to work together in the future."
Thomas Hasler, Head Industry and Automotive Sika: "The trend in automotive construction is moving towards electric vehicles, lightweight construction and multi-material design. By 2025 the number of electric vehicles sold is expected to reach 10 to 15 million. With the combined product ranges of Faist ChemTec and Sika, we will not only position ourselves as a strong supplier for conventional cars, but will also significantly profit from the megatrend towards electrically driven cars and increase our content per vehicle by more than 20%."
Yves Alexandre, L-GAM co-founder: "We are grateful for our partnership with Faist ChemTec over the last years. We are very proud of the achievements of CEO Christoph R?ttges and his management team, who were able to successfully expand the reach of the company in North America, Eastern Europe and China during our period of ownership. We are convinced that Sika is the right partner for Faist ChemTec in the future and will be able to further accelerate the global development of the company."
Christoph R?ttges, Faist ChemTec CEO: "The management team is very happy with this strategic move for the company and is looking forward to developing the business further to create more customer value with high-performance products. Sika's expertise in material technologies will be a great contribution to Faist ChemTec products and further innovations. I would like to thank the L-GAM team for their support over the last few years."