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Wacker Chemie expands silicone business with takeover in China

JINING / MUNICH (dpa-AFX) – WACKER CHEMIE is expanding its business in additives for adhesives, sealants and coatings with a takeover in China. The MDAX group announced on Wednesday that 60 percent of the specialty silane manufacturer Sico Performance Material would be acquired for around 120 million euros. Wacker Chemie boss Christian Hartel describes the purchase as a “step in our strategy to further expand the share of high-margin specialties in the silicone business worldwide.” The transaction is expected to close in the first half of 2022 if the authorities approve.

So far, Wacker Chemie has only manufactured so-called organofunctional silanes in Germany. With the participation in Sico, the offer will be expanded. In addition, production is closer to customers in rapidly growing markets. Sico’s products are used in the construction industry, in automotive engineering, in the semiconductor and electronics industries./mis/jha/

Reference-www.finanzen.at

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