Henkel successfully completes acquisition of Sovereign Specialty Chemicals
Henkel sustainably strengthens its craftsmen and industrial businesses in the USA: The acquisition of the U.S. adhesives company Sovereign Specialty Chemicals, Inc. by Henkel Corporation, a U.S. affiliate of Henkel KGaA, was successfully completed on December 27, 2004. The transaction value of the acquisition is approximately 575 million USD. "The acquisition of Sovereign Specialty Chemicals provides Henkel in North America with a substantial and growing business in the craftsmen and DIY adhesives and sealants market and complements the industrial segment in an ideal way. We now hold a strong number two position in both segments in the U.S. market", says Ulrich Lehner, Chairman of the Management Board of Henkel KGaA. "With the successful completion of all acquisitions made in 2004, the Henkel Group will generate about 25 percent of its sales in the USA." Sovereign Specialty Chemicals employs about 900 people worldwide and realized sales of 391 million USD in the period July 1, 2003 through June 30, 2004. The product range encompasses technologically sophisticated adhesives, sealants and coating materials for various industrial applications as well as for the craftsmen and DIY market segment.
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