Showa Denko (SDK) recently announced that it has decided to acquire all shares in ILAG Industrielack AG, a specialty non-stick coating chemicals (NSCs) manufacturing company headquartered in Wangen, Switzerland.
NSCs are used on consumer goods such as cookware, bakeware, and home electrical appliances, and industrial goods for the purposes of preventing sticking of substances on their surfaces and supporting low friction and release during use.
ILAG has the fourth largest share in the consumer-goods NSC market of worldwide operating companies, and the second largest share of this segment in Europe.
On the other hand, GMM Group, a manufacturer of NSCs which SDK acquired in 2016, has a large market share in NSC market for consumer goods in the US. Therefore, SDK is confident that ILAG and GMM are highly synergetic.
After the acquisition of ILAG, annual sales figure of SDK’s NSC business will leap up to about $60 million.