Germany-based Henkel has signed an agreement with the specialty chemicals company in the US, Cytec Industries to acquire its high-performance pressure sensitive adhesives (PSA) product range.
Henkel said the acquisition is in line with the company's global strategy to grow its core businesses and will further enhance its competence in the high performance adhesives area.
The acquisition, which is expected to be closed in the third quarter of 2012, is subject to satisfaction of certain conditions, Henkel said.
Cytec's PSA product range generated sales of $94m in fiscal 2011.
The specialized adhesives, PSAs are used in the packaging, automotive, electronic and durable goods industries for foils and films, tapes or labels offering high performance adhesive characteristics.
