Muncie-based Magna-Tech Manufacturing has been acquired by Henkel Corporation. Henkel is the U.S. subsidiary of Henkel AG &Co. KGaA in Germany.
Magna-Tech will function as a subsidiary of Henkel Corporation as part of its Adhesive Technologies business. Henkel says Magna-Tech’s vacuum impregnation services will leverage its strong presence in the passenger vehicle market.
"As vehicle lightweighting continues to accelerate, vacuum impregnation is taking on an increasingly important role within the automotive industry," said Angela Cackovich, corporate vice president of transportation and Metals for Henkel Corporation, North America and Latin America North. "The addition of Magna-Tech as a subsidiary of Henkel will help expand our role from a resin provider for vacuum impregnation to one that also offers process center services and equipment solutions."
Financial details about the acquisition were not disclosed. Magna-Tech is headquartered in Muncie and has ten facilities across North America. Information on how the acquisition would affect Magna-Tech employees was not released.