On October 27, Wacker Chemie announced the acquisition of a 60% stake in Shandong Sike New Material Co.
, Ltd.
(Shandong Sike), a specialty silane producer located in Jining, Shandong, for approximately 120 million euros
.
The two parties signed the relevant agreement on the same day
.
The entire transaction after approval by government regulators and antitrust review, is expected to be completed in the first half of 2022 paint online coatingol.
com
.
"Our new partnership with Shandong Silicon Technology is another step in our continued implementation of our strategy to further expand the share of highly profitable specialty products in WACKER's global silicone business
.
" President and Chief Executive Officer of WACKER Executive officer Christian Hartel said
.
"Shandong Silicon Technology is a leading manufacturer of organic functional silanes in China.
Organic functional silanes are important components of high-efficiency adhesives, sealants, coatings and composite materials
.
WACKER also has decades of rich experience in this field
.
But to So far, we have only produced organic functional silanes in Germany
.
Through the acquisition of Shandong Silicon Technology, we can further expand the types of high-quality specialty products for the Asian market, and be better in the fast-growing Asian consumer market Close to our customers
.
Shandong Silicon Technology was founded in 2013 and is located in Jining New Material Industrial Park, Shandong Province, China.
Many organic functional silanes produced by the company are widely used in construction, automobile manufacturing, semiconductor and electronics industries
.
This leading company in the Chinese industry has achieved strong growth in the past few years, the company has strong profitability and has positive cash flow
.
Shandong Silicon Technology's full-year sales in 2020 will be 54 million euros
.
Qu Yuan, Chairman of Shandong Silicon Technology, said: "We are very pleased to have reached a partnership with WACKER.
WACKER is one of the world's leading market and technology leaders in the field of silicones
.
By cooperating with WACKER, we can further expand our Portfolio of specialty silane products
.
"
