Industry News

Hanita Coatings to be Acquired by Avery Dennison

United States: Avery Dennison Corporation, a US based packaging materials company has agreed to acquire Hanita Coatings RCA Ltd, a pressure-sensitive materials manufacturer of specialty films and laminates, headquartered in Israel for USD75 million. The transaction is expected to be completed within a few months of 2017. Hanita Coatings RCA Ltd is involved in the manufacturing of coated, laminated, and metallized polyester films for a range of industrial and commercial applications as well as window films for use in architecture and automotive aftermarkets. With this acquisition, Avery Dennison is aiming to use their established brand name and strong global hold in corporate world to accelerate Hanita Coatings’ product commercialization worldwide. In 2015, Hanita Coatings recorded total sale of nearly USD50 million by doing business in over 40 countries, which is expected to strengthen the position of Avery Dennison through this acquisition.

TechSci Research depicts that this acquisition would stimulate the growth and augment the footprint of the company in the specialty films market across different regions. As Saudi Arabia is major market for specialty films manufactured in the US, this acquisition by Avery would aid the company to cater to the growing demands for window films in Saudi Arabia.

According to the recently published report by TechSci Research, Saudi Arabia Window Films Market Forecast & Opportunities, 2020”, the window films market in Saudi Arabia is estimated to cross USD84 million in 2015. Segment-wise, solar control window films are anticipated to dominate the country’s window films market, followed by windows films designed for enhancing safety and security. The largest end user of window films in the country is the automotive sector, and the sector is expected to continue its market dominance through 2020. With government of Saudi Arabia expected to lift ban on women driving in the coming years, the country’s window films market is expected to benefit from this initiative. In Saudi Arabia, window films market is completely import dependent, and global manufacturers are operating in the country through their respective distributors. Few of the leading window film brands operating in Saudi Arabia include 3M, Johnson, Madico, V-KOOL, Sun-Gard, and LLumar, among others.

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