(Reuters) – Sika hopes to pull off some “good” acquisitions in 2016, the Swiss chemicals firm’s chief executive said on Tuesday.
“We always have a pipeline of targets we work on, we negotiate and we discuss. Hopefully we’re also going to have some good ones in 2016,” Jan Jenisch said in call with analysts after posting fourth-quarter results.
Sika is caught in an attempted 2.75 billion Swiss franc ($2.75 billion) takeover by Saint-Gobain. The deal is backed by Switzerland’s wealthy Burkard-Schenker family, the pivotal Sika shareholder, but opposed by the Swiss firm’s management and many board members. Jenisch said he expected a court ruling my mid-year.
($1 = 1.0012 Swiss francs) (Reporting by Joshua Franklin; Editing by Michael Shields)
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.
