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From the Show: Henkel Acquires Adhesives Businesses
April 3, 2008 |Estimated reading time: 2 minutes
LAS VEGAS Henkel Corporation announced at APEX that they've acquired Ablestik and Emerson & Cuming for approximately $6 billion from National Starch. The companies will become part of Henkel's adhesives group, bringing in die attach, board-level interconnect, and related materials, along with intellectual property (IP) and a global manufacturing base.
Doug Dixon, electronics global marketing director, Henkel Corporation, and Joseph DeBiase, GM, Emerson & Cuming, made the joint announcement. "Henkel's strategy for growth relies strongly on acquisitions," Dixon noted. He explained that Henkel selected the Ablestik and Emerson & Cuming groups because of a product synergy, global footprint for product development and market penetration, and interest in growing Henkel's offering for adhesive interconnect and protection products. "We saw that they were strong in areas where Henkel had been weak, and we were strong in areas that they were weak," he said.
Henkel had agreed with Akzo Nobel to take over the Adhesives and Electronics Materials business fromNational Starch, when Akzo Nobel acquired ICI in January 2008. The businesses to be acquired from National Starch realized sales of about $2.9 billion in 2006. These businesses are complementary with the portfolio of the Henkel Adhesives Technologies business sector, both with regard to regions and market segments, according to the company. The Henkel Adhesives Technologies Business Units concerned are: Packaging and Constructive Adhesives (AP), Electronics & Aerospace (AIE) and Metal (AIM). The newly acquired businesses complement the portfolio of the Henkel Adhesives Technologies business sector in regions and market segments. The Strategic Business Units within Henkel benefiting from the deal are industrial and specialty adhesives.
National Starch has a strong position in the Asian and North American adhesives market, and market share in non-wovens, packaging, and athletic footwear, outside of electronics materials. It is also expanding strategically into other key areas that provide growth opportunities.
Both companies employ excellent people who are dedicated to developing superior products anddelivering outstanding customer service, Dixon noted. Henkel and former National Starch employees will be able to learn from each other to create a truly stunning combined business.
Until further notice, Henkel will continue supply customers with their current range of products, technologies, and applications. Also prices, payment terms, delivery conditions, etc. will remain for the time being. Specifically, customer contacts at Henkel and National Starch will remain the same, and our customers will have the same numbers to call for products andservices.
Henkel has staffed a program management office (PMO) with Henkel senior managers working closelytogether with professional external support to combine the people and businesses. It will begin in Q'02 2008. National Starch will form comparable "Synergy and Enabler" teams. The Henkel and National Starch teams will work together to develop integrated processes and solutions for the combined organization.
For more information, visit www.henkel.com.