Sika has agreed to acquire Hamatite, the adhesives business of the Yokohama Rubber Co. Ltd. Hamatite offers adhesives and sealants to the construction and automotive industries. The acquisition will significantly strengthen Sika’s market position in Japan, increase market access to all major Japanese OEMs, and notably extend the product offering for sealing and bonding applications in the Japanese construction industry, says Sika. Headquartered in Tokyo, the business generates annual sales of CHF 160 million. The transaction is subject to clearance by anti-trust authorities.

Hamatite’s product portfolio comprises various technologies such as polyurethanes, hot melts, and modified silicones. Its main application area in the construction industry is sealing and bonding solutions for exterior facades. The company operates five plants, the main site being in Hiratsuka, Japan. Additional manufacturing facilities are located in Japan, China, Thailand and the USA.

According to the announcement, through the acquisition of Hamatite, Sika will gain market share and become a strong player in the Japanese construction market. Furthermore, it will extend Sika’s range of adhesives and sealants that meet the high Japanese building standards. The widened range of complementary products and expanded customer network will provide the combined business with significant cross-selling opportunities. The strengthened production footprint in Japan will enable the organization to reliably serve the enlarged customer base.

“The acquisition fits perfectly with our growth strategy,” says Paul Schuler, CEO of Sika. “Hamatite brings leading technology, know-how, and skilled people that will accelerate Sika’s market penetration in the automotive and construction industries. The global manufacturing footprint will increase our ability to serve our automotive customers worldwide–both at a global and a local level. We warmly welcome the successful team from Hamatite into the Sika family and are excited to work together in the future.”