Madison Heights, MI /PRNewswire/ - Henkel Corporation, the U.S. subsidiary of Henkel AG & Co. KGaA of Germany, today announced the acquisition of Magna-Tech Manufacturing, headquartered in Muncie, Indiana. Magna-Tech Manufacturing is the North American market leader in vacuum impregnation services, with a focus on process center capabilities.
Magna-Tech will function as a subsidiary of Henkel Corporation, operating as part of its Adhesive Technologies business, the leading solution provider for adhesives, sealants and functional coatings worldwide. Magna-Tech's vacuum impregnation services provide a complementary service business that leverages Henkel's strong presence in the passenger vehicle market. This acquisition also enhances Henkel's global footprint in impregnation services by adding to Henkel's existing network of European and Asian process centers.
"As vehicle lightweighting continues to accelerate, vacuum impregnation is taking on an increasingly important role within the automotive industry," said Angela Cackovich, Corporate Vice President, Transportation and Metals, Henkel Corporation, North America and Latin America North. "The addition of Magna-Tech as a subsidiary of Henkel will help expand our role from a resin provider for vacuum impregnation to one that also offers process center services and equipment solutions."
Currently, Henkel provides LOCTITE® impregnation solutions with resins that cure to an impermeable thermoset polymer, making it possible to permanently seal pores to enable quality lightweight, thin-walled die-casted parts.
"Henkel's impregnation capabilities are complementary to Magna-Tech's portfolio," said Rob Swords, Chief Executive Officer, Magna-Tech Manufacturing. "I look forward to a joint working relationship with Henkel and the opportunities that will result from this combined business environment."
Magna-Tech Manufacturing has 10 facilities across North America. Financial details about the transaction have not been disclosed.
Henkel In North America
Henkel operates worldwide with leading brands and technologies in three business areas:
Laundry & Home Care, Beauty Care and Adhesive Technologies. Founded in 1876, Henkel holds globally leading market positions both in the consumer and industrial businesses with well-known brands such as Persil, Schwarzkopf and Loctite. Henkel employs almost 50,000 people and reported sales of $21.8 billion and adjusted operating profit of $3.5 billion in fiscal 2014. Henkel's preferred shares are listed in the German stock index DAX.
SOURCE: HenkelCopyright 2015 PR Newswire. All Rights Reserved