DIC Group acquires Sapici and its holding company
The DIC Corporation has announced that its Milan-based wholly owned subsidiary Sun Chemical Group, has acquired 100% of the shares of Italian adhesives and polymers manufacturer Sapici and its holding company Finape.
As the DIC Group points out, Sapici, a Sun Chemical S.p.A. adhesives production outsourcing contractor, is known as the first company in the world to successfully commercialise ultra low monomer polyisocyanate (ULM) with the lowest possible hazardous substance content. Access to Sapici’s production technologies shall 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. The price of the recent acquisition is undisclosed.
Concentrating resources on packaging solution
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.
