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Automotive | Other Industries

Nitto Denko Corporation has sold certain assets of Nitto Switzerland to ZF Friedrichshafen AG

Nitto Switzerland is the global market leader in specialized adhesive films for side curtain airbags. Its products outperform other technologies in terms of gas tightness, heat resistance and thickness, as well as adhesiveness to the airbag fabric. The technology is patented and has been sold together with other assets to ZF Friedrichshafen AG in the course of an asset deal.

Nitto Switzerland designs and further develops adhesive multilayer films for curtain-airbags used in the automotive industry. As these airbags need to stay inflated for up to eight seconds (duration of a roll-over accident), the application of such a film significantly improves the gas tightness. Nitto holds several granted and pending patents for both the film and the corresponding lamination process. The company has a highly scalable and asset-light business structure, with the entire production process being outsourced.

ZF Friedrichshafen is one of the largest suppliers in the world for the automotive industry. The company has a global workforce of 153,500 employees, with 271 locations in 42 countries. In 2020, ZF Friedrichshafen achieved sales of US$37.2 billion. Founded in 1915, it has evolved from a supplier specializing in aviation technology to a global mobility technology company.

Nitto Denko Corporation is a Japanese company active in the field of chemicals. It engages in the manufacture and sale of adhesives, optical films, semiconductors, electronic devices and consumer products. It operates through the industrial tape, optronics and life science segments. The industrial tape segment manufactures and sells sealing, protective and packaging products, as well as automobile materials. The optronics segment produces liquid crystal display products, semiconductor devices, printed circuits and functional materials. The life science segment offers medical-related products.

Oaklins’ team in Switzerland was the exclusive advisor to Nitto Denko Corporation in this transaction. The team in Germany supported the transaction.

M&A sell-side

Talk to the deal team

 Jens  Rutten

Jens Rutten


Zurich, Switzerland
Oaklins Switzerland
Dr. Florian  von Alten

Dr. Florian von Alten

Managing Partner

Hamburg, Germany
Oaklins Germany
 Roman  Thomet

Roman Thomet

Senior Associate

Zurich, Switzerland
Oaklins Switzerland
 Andrea  Stärkle

Andrea Stärkle


Basel, Switzerland
Oaklins Switzerland

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