VOLTEK’S Parent Company Sekisui Expands Worldwide Crosslinked Polyolefin Foam Capability Exchange of Technologies to Broaden Overseas Operations
LAWRENCE, MA (April 2003) – Voltek, Division of Sekisui America Corporation, announced that its parent company, Sekisui Chemical Company Ltd., has acquired 51 percent, or 10.2 million, of Young Bo?s shares. Young Bo is a leading Asian polyolefin foam manufacturer, ranking second behind Sekisui in polyolefin foam production within the Asian market. The acquisition will strengthen both Sekisui?s and Young Bo?s position in the Asian market and expand worldwide capabilities within the polyolefin foam business.
The new collaboration between companies will augment Sekisui?s global competitive position by integrating and utilizing technologies, production facilities and sales networks of the two companies. Another key benefit will be the increase of worldwide supply capabilities with the addition of new manufacturing facilities.
Finally, this move will allow Sekisui, the number one manufacturer of polyolefin foam in the world, the capability to increase its current 35 percent worldwide market share to approximately 45 percent.