Acquisition of Functional Film for Curtain Airbags Business from Swiss Company Nolax
Nitto Denko Corporation (hereafter, Nitto, CEO Hideo Takasaki) acquired a new business for functional film used in automotive side curtain airbags from Nolax Holding A.G. (hereafter Nolax). With this acquisition, Nitto expands its portfolio of products and aims for further growth in the transportation business sector as part of a commitment to transform its business portfolio.
On June 28, 2016, Nitto concluded an agreement with Nolax Holding AG (hereafter, Nolax) for the acquisition of its functional film for automotive side curtain airbags business. The transaction was completed on July 13, 2016, upon receiving approval from anti-trust authorities.
As demand for additional safety features in cars and performance improvements in passive safety increases, so does the number of cars equipped with SRS (Supplemental Restraint Systems). In the US, side curtain airbag systems will become mandatory by 2017. This trend will have a positive impact on global demand for side curtain airbags for cars and commercial vehicles.
Through this acquisition, Nitto gains a unique adhesive thin film solution that delivers suitable airtightness in side curtain airbags and outperforms conventional products in terms of weight and compactness. Looking towards the future, Nitto will continue to deliver innovations to expand both its technological offerings and its share in the car safety industry.
The newly founded company, Nitto Switzerland AG, will manage the business under the umbrella of Nitto EMEA Headquarters (Nitto EMEA NV).
■Outline of Nitto Switzerland
Name: Nitto Switzerland AG
Address: Industriestrasse 18, CH-3185 Schmitten
President: Satoshi TANIGAWA
Nitto will further pursue “Innovation for Customers” and strive for maximization of our customers’ value.
*Nolax is an innovation company located in Switzerland with core competency is in Energy, Lifestyle, and Mobility based on adhesive technology.
*Suitable “airtightness” is required for the curtain airbags to remain inflated for a certain period of time to protect car occupants from severe or fatal injuries during a rollover accident.