Sika Strengthens Engineered Waterproofing Business in North America
(Thomson Reuters ONE) -
Sika AG / Sika Strengthens Engineered Waterproofing Business in North America processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
Sika AG announces that its U.S. subsidiary, Sika Corporation, has acquired the
Greenstreak Group, Inc. The transaction closed on July 1, 2010. Headquartered in
St. Louis, MO, annual revenues for Greenstreak are approximately $30 million
USD. Sika expects this acquisition will further strengthen its leadership
position in the North American construction industry - particularly in the area
of engineered waterproofing.
Since 1950, Greenstreak has been manufacturing high quality, high value products
for the construction industry, including engineered waterstops and joint seals,
doweling systems, architectural form liners, pipeline protections, and a wide
range of forming accessories.
Over the past 20 years, Greenstreak has achieved a leading position in
waterstops and watertight system solutions for concrete construction in North
America. Its efficient production facility in St. Louis, brings strong
manufacturing technology and expertise to Sika North America. Finally,
Greenstreak also brings a strong, well-known brand that is highly respected in
the civil engineering and architectural communities. Following the acquisition
of the European-based Tricosal in 2008, Greenstreak now gives Sika ownership of
the 3 globally strong engineered waterstop brands: Sika - Tricosal -
Greenstreak.
Used on some of the most notable projects worldwide, Greenstreak products are an
ideal fit into the Sika Corporation product line. Greenstreak's innovation,
engineering, and top quality craftsmanship are a perfect pairing with Sika's
customer-first philosophy. The acquisition is yet another milestone in Sika's
commitment to providing its customers with expert quality, service, and
innovation through a wide array of products, system solutions and technologies.
Upon completing the transaction, Greenstreak with approximately 100 employees
will operate as a subsidiary of Sika Corporation and will be managed by the
existing Greenstreak management team
Sika Corporation is based in Lyndhurst, New Jersey.
-END-
Sika AG | Contact: Rainer Weihofen,
| Corporate Communications & Investor Relations
Zugerstrasse 50 |
| Tel.: +41 58 436 68 00
CH-6341 Baar, Switzerland |
| Fax: +41 58 436 68 50
www.sika.com |
| weihofen.rainer(at)ch.sika.com
----------------------------+-----------------------------------------------
Sika AG Corporate Profile
Sika AG, located in Baar, Switzerland, is a globally active company supplying
the specialty chemicals markets. It is a leader in processing materials used in
sealing, bonding, damping, reinforcing and protecting load-bearing structures in
construction (buildings and infrastructure construction) and in industry
(vehicle, building component and equipment production).
Sika's product lines feature high-quality concrete admixtures, specialty
mortars, sealants and adhesives, damping and reinforcing materials, structural
strengthening systems, industrial flooring as well as roofing and waterproofing
systems. Subsidiaries in more than 70 countries worldwide and approximately
12 000 employees link customers directly to Sika and ensure the success of all
our partners. Sika achieves annual sales of CHF 4.2 billion. Visit our website
at www.sika.com.
The media release can be downloaded from the following link:
[HUG#1429148]
--- End of Message ---
Sika AG
Zugerstrasse 50 Baar null
WKN: 858573;ISIN: CH0000587979;
Media Release: http://hugin.info/100359/R/1429148/376358.pdf
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Source: Sika AG via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 01.07.2010 - 20:31 Uhr
Sprache: Deutsch
News-ID 23369
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