Sika has agreed to acquire Polypag, a leading Swiss-based manufacturer and developer of polyurethane foam systems. This acquisition will enhance Sika’s expertise in the area of polyurethane foam development, expand its product portfolio and production capacity, and drive forward the specialist trade business. Last year, Polypag recorded annual sales of some CHF 40 million with a workforce of 120 employees. The transaction is subject to approval by the competition authorities.
Polypag was founded in Altstätten, Switzerland, in 1980. Today the company is a leading supplier of specialist foam systems, and has positioned itself as a strong specialist trade partner with an impressive product range. Foams based on polyurethane are construction materials used whenever something is insulated, sealed, bonded, or fitted. They are used in professional construction applications such as building shells, building structures, and building protection, as well as in the DIY market. The transaction encompasses Polypag’s headquarters along with the production site in Altstätten, a research and development center in Canton Appenzell, and a production site at Landsberg am Lech, Germany.
Ivo Schädler, Sika EMEA Regional Manager: “The acquisition of Polypag will significantly strengthen our Sealing & Bonding business. The combined technological and development expertise will open up new cross-selling opportunities. Moreover, by expanding the specialist trade business we will drive forward market penetration and establish growth platforms for both companies. We look forward to a successful shared future and would like to extend a very warm welcome to Polypag employees as they join the Sika team.”
Gottfried J.Peichl, Board of Directors, FLM Holding: “I am extremely pleased to hand over Polypag to Sika and to open up a great development and growth opportunity for the PU activities. I would like to thank all employees for their achievements and wish them and the company every success and a good future.”
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?