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
The investment enables the steam cracker to increase the share of renewable and recycled raw materials used in its (ethylene and propylene) production. The move supports the Borealis Strategy 2030 for a circular economy. The Porvoo investment program is expected to be completed in 2025.
Murray Auchincloss, bp’s CEO, said in a statement: “As I set out in February, BP’s destination from IOC [international oil company] to IEC [integrated energy company] is unchanged – and we need to deliver as a simpler, more focused, and higher-value company.
Founded in 1972, Tecnofilm has expanded its product portfolio over the years to offer a wider range of compounds and functional polymers for various industrial applications and technical articles. The company has patented several of its products.
