Pressure sensitive adhesives are specialized adhesives used in the packaging, automotive, electronic and durable goods industries for foils and films, tapes or labels offering high performance adhesive characteristics.
The acquisition is in line with Henkel’s global strategy to grow its core businesses the company said. Jean Fayolle, responsible for Henkel’s Packaging Adhesives business, said: “The product range to be acquired is complementary to Henkel’s well established high-performance PSA business and is expected to strengthen our position in this field.”
In fiscal 2011, Cytec’s PSA product range generated sales of 94 million USD. The business includes about 80 employees. The agreement on the sale was signed on May 11, 2012. The acquisition is subject to satisfaction of certain conditions and is expected to be closed in the third quarter 2012.