May 17, 2021
Industrials and Industrial Technology
GCA advises The Yokohama Rubber Co. on the sale of Hamatite to Sika
GCA has advised The Yokohama Rubber Co. on the sale of Hamatite, its adhesives business, to Sika. Hamatite is a market leader in Japan, offering adhesives and sealants to the automotive and construction industries.
Sika is a Swiss specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry. Sika has subsidiaries in 100 countries around the world and manufactures in over 300 factories. Its 25,000 employees generated annual sales of CHF 7.88 billion in 2020.
Yokohama Rubber started the Hamatite business in 1958 and has since grown the business with a focus on automotive and construction sealants and adhesives. Headquartered in Tokyo, 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. Its product portfolio comprises various technologies such as polyurethanes, hot melts, and modified silicones. Hamatite operates five plants, the main site being in Hiratsuka, Japan, with additional manufacturing facilities in Japan, China, Thailand, and 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. 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, provide significant cross-selling opportunities and strengthen its production footprint in Japan.
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 specialty chemical companies, Sika. Yokohama will steadily implement our new medium-term business plan of further deepening our existing core businesses.”
Paul Schuler, CEO of Sika, added: “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.”
The transaction is subject to clearance by anti-trust authorities.