SIKA HAS AGREED TO ACQUIRE A LEADING MORTAR MANUFACTURER IN HONG KONG
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Sika AG /
SIKA HAS AGREED TO ACQUIRE A LEADING MORTAR MANUFACTURER IN HONG KONG
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The issuer is solely responsible for the content of this announcement.
Sika has agreed to acquire Ronacrete (Far East) Ltd., one of the leading
suppliers of repair mortars, tile adhesives and other mortar products in Hong
Kong. This acquisition is in line with the global expansion of the high-margin
mortar business - a core component of Strategy 2018. The Ronacrete plant brings
Sika's mortar footprint to 89 factories worldwide.
Ronacrete is a leading manufacturer of repair mortars, tile adhesives and other
specialty products for the Hong Kong construction industry. With its excellent
technical expertise the company has built up a strong specification business
over the last few decades and has established itself as a preferred partner for
private and public key developers in Hong Kong. Ronacrete is based in Hong Kong
and operates an efficient production facility in the neighbouring Guangzhou
province.
Hong Kong is a mega city with a rising demand for refurbishment. The
construction market is expected to grow by more than 5% annually over the course
of the next five years, also driven by an increase in public housing projects.
By acquiring Ronacrete, Sika will extend its manufacturing footprint to better
serve this market. The wider product range and improved market access will allow
the combined businesses to fully participate in the growing Hong Kong
construction market.
Heinz Gisel, Regional Manager Asia/Pacific: "The acquisition represents a
further step in the expansion of Sika's mortar business. It will provide us with
access to new market channels and a comprehensive mortar range with an
established market position. We welcome the Ronacrete employees to the Sika team
and look forward to growing our business together."
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 protection in the building sector and automotive industry. Sika
has subsidiaries in 97 countries around the world and manufactures in over 170
factories. Its more than 17,000 employees generated annual sales of CHF 5.49
billion in 2015.
The media release can be downloaded from the following link:
Media Release:
http://hugin.info/100359/R/2049469/766440.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Sika AG via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 18.10.2016 - 07:00 Uhr
Sprache: Deutsch
News-ID 501000
Anzahl Zeichen: 3271
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Kategorie:
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