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
ExxonMobil Corp. (Spring, Tex.) announced the startup of two new chemical production units at its Baytown, Texas, manufacturing facility. The $2 billion expansion is part of ExxonMobil’s long-term growth plans to deliver higher-value products from its U.S. Gulf Coast refining and chemical facilities.
Ineos Enterprises has announced the acquisition of Eramet Titanium & Iron (ETI) from Eramet for €230 million ($245 million). The deal was completed on Sept. 21 and takes immediate effect, following the satisfaction of regulatory approvals.
Arxada has appointed Sanjeev Rastogi as Chief Executive Officer (CEO), effective immediately. He succeeds Marc Doyle who led Arxada since its foundation and will join the company’s board of directors as a non-executive member.
