Henkel has signed an agreement with the US-based specialty chemicals company Cytec Industries Inc. to acquire its high-performance pressure sensitive adhesives (PSA) product range. Pressure sensitive adhesives are specialized adhesives used in the packaging, automotive, electronic and durable goods industries for foils and films, tapes or labels offering high performance adhesive characteristics.
The acquisition is in line with Henkel’s global strategy to grow its core businesses and further enhances Henkel’s competence in the area of high performance adhesives. Jean Fayolle, responsible for Henkel’s Packaging Adhesives business, says: “The product range to be acquired is complementary to Henkel’s well established high-performance PSA business and is expected to strengthen our position in this area.”
In fiscal 2011, Cytec’s PSA product range generated sales of 94 million US dollars. The business includes about 80 employees. The agreement on the sale was signed on May 11, 2012. The acquisition is subject to satisfaction of certain conditions and is expected to be closed in the third quarter 2012.
Source: Henkel AG & Co. KGaA