Sika has agreed to acquire Hamatite, the adhesives business of The Yokohama Rubber Co Ltd. Hamatite is a market leader in Japan, offering adhesives and sealants to the automotive and construction 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. Headquartered in Tokyo, the business generates annual sales of CHF160M. The transaction is subject to clearance by anti-trust authorities.
Hamatite is a highly recognised, trusted supplier with a strong, reputable brand, holding a leading position in the Japanese automotive and construction industry. With its high-quality products and nationwide sales network, it has built up long-lasting relationships with both Japanese automotive OEMs as well as customers in the construction sector and is seen as a reliable, long-term business partner. The product portfolio comprises various technologies, such as polyurethanes, hot melts and modified silicones. The well established Hamatite brand is the preferred solution among the Japanese OEMs for glass bonding, as well as for hot melt applications. The main application area in the construction industry is sealing and bonding solutions for exterior facades. Hamatite operates five plants, the main site being in Hiratsuka, Japan. Additional manufacturing facilities are located in Japan, China, Thailand and in the USA.
By acquiring Hamatite, Sika’s automotive business will immediately benefit from increased market access to all major Japanese OEMs, significantly increasing content per vehicle (CHF sales/vehicle) with these customers globally. Besides ensuring a seamless business transfer to all valued customers globally, Sika expects to further expand its relationship with and widen its offering for global Japanese car manufacturers when operating in other countries. The combined business will offer an extensive global production footprint, thus delivering long-term supply chain advantages to all automotive OEMs.
In construction, the acquisition will allow Sika to gain market share and become a strong player in the Japanese 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 organisation to reliably serve the enlarged customer base.
Paul Schuler, CEO of Sika, said: "The acquisition fits perfectly with our Growth Strategy. 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.”
Mike Campion, Regional Manager Asia/Pacific Sika: "With Hamatite we will significantly expand our network of talented sales people and customer relationships in the Japanese market. Together we will provide our customers with an extensive range of high-quality products and first-class service. In combining our businesses, Sika will pay close attention to the Hamatite corporate culture and respect Japanese business practices. We are looking forward to the Hamatite employees joining our team and to developing our joint cross-selling potential.”
Masataka Yamaishi, President, Chairman of the Board of Yokohama Rubber Co Ltd said: "I am convinced that Hamatite can foster future business expansion under one of the world’s largest speciality chemical companies, Sika. Yokohama will steadily implement our New Medium-Term Business Plan "Yokohama Transformation 2023” announced on February 19, 2021 by further deepening our existing core businesses.”
