Showa Denko Acquires GMM Nonstick Coatings
Showa Denko K.K. (SDK) (listed in Tokyo: 4004) has acquired GMM Nonstick Coatings (GMM), a specialty non-stick coating chemicals manufacturing company headquartered in Hong Kong, China, with operations in the USA, China and India.
GMM's non-stick coatings are mainly used in consumer goods including cookware, bakeware, and various home electrical appliances. Its major customers are the leading cookware manufacturing companies in the US - each day over 40M Americans use products coated with GMM's non-stick coatings.
SDK's acquisition of GMM is a part of its strategic actions aiming to establish new individualised businesses through extension of SDK's value chain into downstream markets and the sphere of its technologies, which form the foundation of SDK's business activities.
GMM and the sellers were advised by Mannheimer Swartling in the transaction.