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
It is indeed a pivotal milestone for OMV and the chemicals industry at large. Together with ADNOC, we are combining Borealis and Borouge to create Borouge Group International. The new entity will acquire Nova Chemicals, further expanding its footprint in North America. The combination is built on highly complementary strengths of these three world-class companies.
The awards are designed to recognise pioneering ideas and showcase the vital role vinyl plays. The industry faces an increasingly challenging environment with growing geopolitical uncertainty – highlighting the need for new technologies, sustainability stewardship, and strong leadership.
The refinery has been modified to enable Neste to produce up to 500,000 metric tons per year (m.t./yr) of SAF. As a result, Neste’s global SAF production capability has increased to 1.5 million m.t./yr (around 1.875 billion liters). Last year, Neste bolstered its SAF supply capabilities in North America through a partnership with ONEOK to expand terminal capacity in Houston.
