Sika has agreed to acquire Faist ChemTec Group, a manufacturer of high-performance engineered, structure-borne acoustic solutions for the automotive industry. Headquartered in Worms, Germany, the company generates annual sales of CHF 190 million and employs 840 people worldwide. The transaction is subject to clearance by anti-trust authorities.
Faist ChemTec was founded more than 100 years ago and has six production sites in Europe, North America and Asia, and a pan-European distribution network. Its innovations are driven by megatrends such as the increased need for comfort and lightweight construction of vehicles, according to the company.
“The acquisition fits perfectly with our growth strategy and will significantly enhance our product offerings and technology base for acoustic damping solutions in the automotive market,” said Paul Schuler, CEO of Sika. “The manufacturing footprint supports our aim to achieve global reach combined with local presence when serving customers worldwide. We warmly welcome the successful team from Faist ChemTec Group into the Sika family and are excited to work together in the future.”
“The trend in automotive construction is moving towards electric vehicles, lightweight construction and multi-material design. By 2025 the number of electric vehicles sold is expected to reach 10 to 15 million,” said Thomas Hasler, head industry and automotive Sika. “With the combined product ranges of Faist ChemTec and Sika, we will not only position ourselves as a strong supplier for conventional cars, but will also significantly profit from the megatrend towards electrically driven cars and increase our content per vehicle by more than 20 percent.”