TOKYO -- The board of Harima Chemicals Group has approved a plan to acquire the solder materials business of Henkel for an undisclosed amount.

The deal includes production assets, production technology, trademarks, patents, research equipment, inventory, employees, and commercial rights in Europe, the US and Asia, and factory real estate in Malaysia.

Henkel's solder business has sales of EUR 28 million ($31.6 million). The acquisition is expected to be negligible to Harima's consolidated financial results for its fiscal year ending Mar. 31, 2022.

Harima is a developer of solder pastes mainly for the automotive and communication equipment industries.

The company noted growing demand for solder materials that offer reliability and durability in harsh environments, and for 5G products.

Henkel automotive customers in Europe, as well as in the industrial equipment and consumer electronics industries worldwide, greatly expands Harima's customer base, the company said.

It sees greater market competitiveness through the addition of Henkel's product lines plus improved profitability and plant productivity through increased volume after consolidation of the two businesses.

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