SIKA EXPANDS FOOTPRINT IN AFRICA
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Sika AG /
SIKA EXPANDS FOOTPRINT IN AFRICA
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Sika is opening its first concrete admixture and mortar production facilities in
Nigeria and Ivory Coast and has established new subsidiaries in Ethiopia and
Tanzania to participate in the growing markets in the Sub-Saharan region. Thus
Sika continues its dedicated and successful expansion strategy and is enlarging
its presence to sixteen countries on the African continent.
Paul Schuler, Regional Manager EMEA, emphasizes the importance of Sika's
expansion in Africa's Sub-Saharan region: "Our new production facilities in
Nigeria and Ivory Coast and our new subsidiaries in Tanzania and Ethiopia
represent another milestone in the consequent execution of Sika's Strategy
2018. With the latest investments we will further accelerate our growth in Sub-
Saharan Africa and increase Sika's market share. It demonstrates our strong
belief in the potential and the prosperous future of the continent."
Sika established the subsidiary in Nigeria and Ivory Coast in 2014 and is now in
Lagos and Abidjan investing in local production facilities for high-quality
concrete admixtures and mortars to supply the booming construction,
refurbishment and maintenance markets in both countries. Many international and
medium-sized local contractors working on big oil & gas, infrastructure,
commercial and residential projects represent a large customer potential.
MAJOR GROWTH POTENTIAL
Nigeria is the biggest economy in Africa in terms of population and GDP. With
roughly 180 million inhabitants and an expected annual growth rate of
approximately 5%, the country will have major requirements in the construction
sector. With 23 million inhabitants Ivory Coast represents one of the smaller
African countries, but offers also a promising growth potential for Sika. Cement
consumption in both countries is expected to grow by 9% in 2015.
CONTACT
Dominik Slappnig
Corporate Communications &
Investor Relations
+41 58 436 68 21
slappnig.dominik(at)ch.sika.com
SIKA CORPORATE PROFILE
Sika is a specialty chemicals company with a leading position in the development
and production of systems and products for bonding, sealing, damping,
reinforcing and protecting in the building sector and the motor vehicle
industry. Sika has subsidiaries in 90 countries around the world and
manufactures in over 160 factories. Its approximately 17,000 employees generated
annual sales of CHF 5.6 billion in 2014.
The media release can be downloaded from the following link:
Media Release:
http://hugin.info/100359/R/1955135/711746.pdf
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Source: Sika AG via GlobeNewswire
[HUG#1955135]
Unternehmensinformation / Kurzprofil:
Datum: 30.09.2015 - 09:30 Uhr
Sprache: Deutsch
News-ID 423566
Anzahl Zeichen: 3530
contact information:
Town:
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Kategorie:
Business News
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