Showa Denko Acquires GMM Nonstick Coatings

GMM Nonstick Coatings has been acquired by Showa Denko, KK, a Japanese chemicals conglomerate with more than $7 billion in sales, the company said. The deal became official on November 18 and financial terms were not disclosed.

According to GMM, all of its employees and manufacturing operations will remain with the business, which will continue to be known as GMM Nonstick Coatings. Ravin Gandhi will be CEO, while Raymond Chung will have the post of COO. The company said that it will be a platform company of a new SDK business unit that will aim to become the global leader in non-stick coatings.

“We operate in a competitive global market, and SDK offers GMM huge advantages as we continue our rapid growth. We are excited to build a much larger business in the near term,” said Gandhi.