Henkel Group has acquired Huawei Electronics Company, a manufacturer of epoxy molding compounds for semiconductors with 560 employees and sales of approximately US$21 million in 2004.
"This joint venture provides us with an excellent platform for expanding our electronics-related business in China," says Jochen Krautter, executive vice president at Henkel Group. "Our future partner has modern facilities, very good market expertise and a highly experienced management team."
According to Krautter, the acquisition will allow Henkel to both extend its global presence and broaden its product portfolio. Huawei Electronics' growing domestic customer base provides a good counterpart for Henkel's internationally established brand.
"With our domestic expertise and market position, we are an ideal partner for Henkel," agrees Jianglong Han, chairman of Huawei Electronics. "With our combined epoxy molding compound product lines and Henkel's strong presence in underfill, die attach, liquid encapsulant, and thermal interface materials, we anticipate this joint venture to provide a competitive advantage not only in the domestic market, but in the global market place as well."