Henkel says that it has successfully closed the previously announced acquisitions of Darex Packaging Technologies (Cambridge, Massachusetts) and the Sonderhoff Group (Cologne, Germany).
The acquisitions strengthen Henkel’s adhesive business and complement its technology portfolio, according to the company.
“Strengthening our portfolio through targeted acquisitions is part of our strategy,” says Hans Van Bylen, Henkel CEO. “Closing both transactions will allow us to expand the position of our adhesive technologies business as a global market and technology leader,” he says.
Darex supplies high-performance sealants and coatings for the global metal packaging industry, serving customers that produce beverage, food, and aerosol cans. The acquisition was announced at the beginning of March. The purchase price amounted to $1.05 billion on a cash- and debt-free basis. Darex generated sales of $309 million in fiscal 2016. The company has about 700 employees and 20 sites in 19 countries.
Sonderhoff manufactures foamed-in-place gasket solutions and has broad expertise in developing and manufacturing customized dosing equipment. The acquisition of Sonderhoff was announced in May. Both parties agreed to not disclose financial details of the transaction. The company generated sales of about €60 million ($68 million) in 2016. Sonderhoff employs around 280 people worldwide.
“The Darex and Sonderhoff businesses will complement our existing technology portfolio in an excellent way,” says Jan-Dirk Auris, executive vice president, adhesive technologies at Henkel. “Both companies serve attractive markets with substantial growth opportunities and both businesses provide customer-specific, high-impact solutions with an outstanding technical expertise,” Auris says.
By Michael Ravenscroft
Source: Chemical Week
France has launched an offshore green hydrogen production platform at the country’s Port of Saint-Nazaire this week, along with its first offshore wind farm. The hydrogen plant, which its operators say is the world’s first facility of its type, coincides with the launch of another “first of its kind” facility in Sweden dedicated to storing hydrogen in an underground lined rock cavern (LRC).
The project sets up the Hydrogen Valley in Rome, the first industrial-scale technological hub for the development of the national supply chain for the production, transport, storage and use of hydrogen for the decarbonization of industrial processes and for sustainable mobility.
At first glance, hydrogen seems to be the perfect solution to our energy needs. It doesn’t produce any carbon dioxide when used. It can store energy for long periods of time. It doesn’t leave behind hazardous waste materials, like nuclear does. And it doesn’t require large swathes of land to be flooded, like hydroelectricity. Seems too good to be true. So…what’s the catch?