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
Under the agreement, Agilyx and Technip Energies will collaborate with INEOS Styrolution and together develop the design and engineering that will serve as the basis for constructing the chemical recycling facility. The group anticipates completion of engineering in 2023, which will form the basis for a financial investment decision.
Michael Grun took over as the new CEO and President of the WeylChem Group of Companies. He was most recently employed as M&A advisor at WeylChem owner International Chemical Investors Group (ICIG). He succeeds Uwe Brunk, who has decided to step down from these functions after four and a half years and will in turn support ICIG in its growth projects in the future.
With this acquisition, Brenntag Essentials expands its business into key focus markets in Asia Pacific, including Singapore, Malaysia, Indonesia, and the Philippines. This is an additional step in Brenntag’s ongoing transformation process, driving its stringent execution of the Brenntag Essentials strategy to strengthen local capabilities and market coverage in high growth markets like Asia-Pacific.
