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HENKEL AG & CO. KGAA

(HEN3)
  Report
Real-time Estimate Tradegate  -  04:35 2022-12-02 am EST
68.67 EUR   -0.25%
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Henkel : expands Brandon facility to support manufacturing of electric vehicles and electronics

09/21/2022 | 09:10am EST

Sep 21, 2022Brandon, S.D. / US

Adhesive Technologies invests in future-ready operations

Henkel expands Brandon facility to support manufacturing of electric vehicles and electronics

Henkel, a global leader of adhesives, sealants and functional coatings, and leading manufacturer of well-known consumer brands, broke ground on a 35,000 square foot expansion of its production facility in Brandon, South Dakota. The expanded facility will bring state-of-the-art manufacturing capabilities and allow Henkel to increase production of thermal interface materials used to manufacture high-performance electronics and electric vehicles (EV).

The investment in our Brandon facility is a key part of our commitment to create value through our operations and supply chain infrastructure to efficiently meet the growing demand of our customers," said Christof Becker, Senior Vice President Operations and Supply Chain, Henkel Americas. "The expansion demonstrates our ambition to implement advanced production technologies and capabilities across our manufacturing network. We are thankful for the ongoing support and partnership from the City of Brandon, Brandon Development Foundation, and the State of South Dakota as we pursue our strategy of purposeful growth."

Henkel's Brandon facility manufactures thermal interface material adhesives under the leading brands Loctite and Bergquist, which are used in the electronics and automotive industry, with a specific focus on next generation electric car capabilities and components. With an increasing demand on domestic electric vehicle manufacturing, thermal interface materials become an essential part of the supply chain, supporting safe and efficient battery performance during charging and discharging cycles.

As part of Henkel's commitment to build value through comprehensive sustainable operations strategies, the company will pursue LEED certification for both the expansion and existing facility. LEED (Leadership in Energy and Environmental Design) is the most widely used green building rating system in the world and promotes the use of efficient building strategies that are good for people as well as the environment.

The company's facility in Brandon was built in 2009, covers 36,000 square feet, and employs 120 employees. The expansion will create approximately 20 new jobs and is expected to be operational by the fourth quarter of 2023. Henkel's $30 million investment in Brandon was initially announced in October 2021.

Disclaimer

Henkel AG & Co. KGaA published this content on 21 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 September 2022 13:09:11 UTC.


ę Publicnow 2022
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Analyst Recommendations on HENKEL AG & CO. KGAA
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Financials
Sales 2022 22 341 M 23 039 M 23 039 M
Net income 2022 1 243 M 1 282 M 1 282 M
Net Debt 2022 1 111 M 1 146 M 1 146 M
P/E ratio 2022 22,9x
Yield 2022 2,72%
Capitalization 27 940 M 28 813 M 28 813 M
EV / Sales 2022 1,30x
EV / Sales 2023 1,28x
Nbr of Employees 51 800
Free-Float 61,1%
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Number of Analysts 22
Last Close Price 68,44 €
Average target price 66,54 €
Spread / Average Target -2,77%
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Managers and Directors
Carsten Knobel Chairman-Management Board
Marco Swoboda Chief Financial Officer & Executive VP-Finance
Simone Bagel-Trah Member-Supervisory Board
Thomas Gerd Kuehn Chief Compliance Officer & General Counsel
Michael Kaschke Member-Supervisory Board