Cassopolis, Michigan – German silicone specialities supplier CHT Group has acquired Michigan-based ICM Silicones Group, which provides solutions for high-performance silicone emulsions and silicone elastomer applications in the US.
The terms of the acquisition were not disclosed.
ICM consists of five separate operating subsidies: ICM Products Inc. in Cassopolis, Michigan; QSi LLC in Richmond, Virginia; ACC Silicones Ltd. in Bridgewater, UK; Treco srl in Milan, Italy, and ACC Silicones in Tianjin, China.
ICM expands CHT's geographic reach in the US market and strengthens its presence in the silicone specialties market, according to a CHT release.
The acquisition doubles CHT's current silicone business, according to Frank Naumann, CHT CEO.
Broadening CHT's silicone business and technology base into new market segments is a key focus of the group's growth strategy within its Agenda 2020, said Bernhard Hettich, chief operating officer at CHT.