Sector News

Saint-Gobain acquires Italian adhesives company

November 3, 2016
Energy & Chemical Value Chain

Saint-Gobain announced its acquisition of an Italian manufacturer of automotive adhesive tape.

The French company acquired 100 percent of the share capital of the Italian company h-old from private equity fund Arcadia Small Cap, according to a Saint-Gobain press release.

Founded in 1982, h-old designs, manufactures and distributes – mostly in Europe – sg-logo-2016specialty adhesive tapes for various high-performance applications for industrial and automotive markets.

The move to acquire h-old comes days after a Swiss court ruled against Saint Gobain in another takeover move — a years-long dispute to acquire a controlling interest in Swiss specialty chemical company SIKA AG.

The Swiss Zug court last week sided with SIKA AG’s management in a dispute with its founders, the Burkard family, who want to sell their shares to Saint-Gobain SA. The family owns SIKA’s majority voting rights via Schenker-Winkler Holding (SWH).

More than a year ago, SWH announced it was selling to Saint-Gobain, which would give the French conglomerate controlling interest in SIKA. SWH controls 16.1 percent of SIKA’s capital with 52.4 percent in voting rights. In March, Saint-Gobain extended its deal with the Burkard family, giving the company more time to acquire a controlling interest in SIKA AG. In response to the proposed deal, SIKA’s board has been restricting the voting rights of SWH to 5 percent of all registered shares. However, the court ruling Friday prevented the Burkard family from selling its voting rights in Sika to Saint-Gobain.

By Phillip Thompson

Source: GlassBytes

comments closed

Related News

April 14, 2024

Nadja Håkansson appointed Chief Executive Officer of thyssenkrupp Uhde

Energy & Chemical Value Chain

The future CEO of thyssenkrupp Uhde, Nadja Håkansson, has held various management positions at Siemens and Siemens Energy and looks back on over 18 years of national and international experience in the areas of supply chain management, operations, sales and corporate management.

April 14, 2024

Neste and Lotte Chemical team up to scale renewable plastics from used cooking oil

Energy & Chemical Value Chain

Neste and South Korean company Lotte Chemical have partnered on a project to elevate the sustainability profile of chemicals and plastics. The partnership’s ambition is to replace fossil resources with renewable raw materials that offer a lower carbon footprint.

April 14, 2024

EU chemical industry confidence shows upward trend

Energy & Chemical Value Chain

At least the confidence in the chemical sector has been seeing an upward trend and the trade balance is recovering as destocking seems to be coming to an end. Citing projections from the European Central Bank, CEFIC states that the level of inflation is expected to fall from 5.4% in 2023 to 2.3% in 2024.

How can we help you?

We're easy to reach