International. Daikin Industries, Ltd., recently agreed to acquire Heroflon S.p.A., an Italian manufacturer of fluoropolymer compounds. Daikin will obtain all shares of the company owned by Heroflon's executive officers with the completion of the acquisition scheduled for the end of October 2017 after the completion of all necessary procedures.
Heroflon is a composite manufacturer that produces high-performance fluoropolymers by combining various materials. Its product line includes fluoropolymer compounds and micro-powders focused on polytetrafluoroethylene (PTFE). PTFE is a fluoropolymer that is used in a wide range of fields, including automotive, construction, electrical power and chemical industries.
Daikin supplies various types of fluoropolymers, such as PTFE to processing companies, including compounds. With this acquisition, Daikin fully enters the fluoropolymer composite business and will use its global network to expand sales of Heroflon's fluoropolymer compounds and micro-powders.
The company also expects this acquisition to further strengthen its relationship with European automakers, along with expanding sales of fluoroelastomers and refrigerants for automotive air conditioning.
In addition, with the auto parts market shifting towards fluoropolymers to reduce weight, promote miniaturization and reduce fuel consumption, Daikin aims to increase global sales of fluoropolymers and fluoroelastomers to 100 million yen by 2020 by developing products corresponding to a greater need for functional improvement, such as heat and wear resistance, and provide technical services.
