Sika (Baar / Switzerland; www.sika.com) has agreed to buy Swiss PU foam specialist Polypag (Alstätten; www.polypag.ch) for an undisclosed sum. The speciality chemicals company said the acquisition will enhance its expertise in PU foam development, expand its product portfolio and production capacity and drive forward the specialist trade business.

“The acquisition of Polypag will significantly strengthen our sealing and bonding business. The combined technological and development expertise will open up new cross-selling opportunities,” said Ivo Schädler, Sika’s regional manager for EMEA .

The transaction, which remains subject to regulatory approval, includes Polypag’s headquarters in Alstätten / Switzerland and a R&D centre in Canton Appenzell / Switzerland, as well as a production site in Landsberg am Lech / Germany. Polypag has 120 employees and recorded sales of CHF 40m (EUR 34.7m) in 2017. The Alstätten-based company produces PU foam used in construction applications, such as for insulation and sealing materials in buildings.