Air Products has announced it is to acquire S.I.Q – Beteiligungs GmbH, a manufacturer of epoxy additives, based at Marl in Germany.
S.I.Q. was founded in 2000 by a group, and since 2001 has been led by Karlheinz Schoennagel, who has extensive knowledge of the epoxy industry.
It quickly built a strong presence in the epoxy additives business in Germany and other regions of Europe, and will now be passed over to Air Products.
The transaction, terms of which are not being disclosed, is subject to regulatory approval and customary closing conditions.
Mike Hilton, Senior Vice President and General Manager of Electronics and Performance Materials for Air Products said, “The acquisition of S.I.Q. gives us complementary product lines for the construction and coatings markets. S.I.Q.’s line of amine and polyamide hardeners and thermoplastic resins will mesh nicely with Air Products’ epoxy curatives and broaden our offering to these markets.”
Schoennagel was also pleased with the impending acquisition, he said, “We are delighted Air Products sees our epoxy business as a valuable growth platform for their global epoxy additives business; we look forward to ensuring a smooth transition to Air Products.”