17 Jan DIC Group Acquires Italian Adhesives and Polymers Manufacturer SAPICI
Tokyo, Japan—DIC Corporation announced today that Milan-based wholly owned subsidiary Sun Chemical Group S.p.A., has acquired 100% of the shares of Italian adhesives and Polymers manufacturer SAPICI S.p.A. and its holding company FINAPE S.r.l based on the definitive agreement enter into as of November 12, 2021. The price of the acquisition is undisclosed.
Markets for adhesives continues to expand around the world, with those in Europe and the Americas—which together represent half of the overall global market—in particular projected to see further growth as needs for environment-friendly products increase against a backdrop of rising concern for environmental impact and safety. Under the slogan “More than Packaging/Sustainable Solutions,” the DIC Group continues to develop and launching environment-friendly adhesives in Japan and other Asian markets. However, because the Group lacks adhesives development and production bases in Europe and the Americas, opportunities to enhance its operations in these markets by offering products aligned with local needs have been limited.
In addition to its outstanding quality control and technical capabilities, SAPICI, a Sun Chemical S.p.A. adhesives production outsourcing contractor, is known as the first company in the world to successfully commercialize ultra low monomer polyisocyanate (ULM) with the lowest possible hazardous substance content. Access to SAPICI’s production technologies will give the DIC Group a competitive edge in Europe, where needs for ULM are high. The Group expects this acquisition to reinforce its global adhesives supply configuration and promoting complementary strategic products in regions around the world with the goal of boosting annual global sales of adhesives to double the current level by fiscal 2030.
One of the basic policies set forth in DIC’s current medium-term management plan, DIC111, is to concentrate resources on packaging solutions. Accordingly, the DIC Group is working to bolster its product portfolio and strengthen its production capabilities, as well as to expand the scope of this business through joint ventures, M&As and other actions. Going forward, the Group will continue working to fortify and broaden the foundation of its packaging solutions business with the aim of accelerating growth.