German glue and detergent maker Henkel AG said Wednesday it has agreed to acquire Sonderhoff Holding GmbH, a maker of high-impact sealing solutions for industrial assembly with annual revenues of about 60 million euros ($66 million).
Both parties agreed to not disclose any financial details of the transaction, which is subject to regulatory approvals.
Cologne-based Sonderhoff has around 280 employees. The company’s portfolio includes specialized polyurethane and silicone foams as well as customized dosing equipment and automation concepts.
By Friedrich Geiger a
Source: Dow Jones Newswires
BASF will build a commercial scale battery recycling black mass plant in Schwarzheide, Germany. This investment strengthens BASF’s cathode active materials (CAM) production and recycling hub in Schwarzheide. The site is an ideal location for the build-up of battery recycling activities given the presence of many EV car manufacturers and cell producers in Central Europe.
Clariant says it is reducing its number of businesses from five to three, by merging units, under a reorganization that is in line with the company’s purpose-led strategy and cultural transformation. The moves will position Clariant for long-term sustainable growth, the company says.
Chemicals & plastics industry has the most diversified end-use market across all manufacturing industries. The industry returned to growth in 2021 but a supply chain crunch prevented it from becoming stronger. The market is likely to stabilize in the second half of 2022 with a supply-demand balance.