Sika will take on two manufacturing sites and 550 employees
Swiss speciality chemicals firm Sika has agreed to buy AkzoNobel’s building adhesives business unit for €260 million. The deal includes all 550 of the unit’s employees, as well as two manufacturing sites in Rosendahl, Germany, and Damville, France.
Sika predominantly supplies the construction industry with a variety of products, making the Akzo lines a good fit. The divestiture will give the Dutch company cash to clear short-term debts and allow it to concentrate on expanding its decorative paints business into emerging markets.