SIKA DRIVES FORWARD OPERATIONAL IMPLEMENTATION IN AFRICAN GROWTH MARKET: PRODUCTION FACILITY ESTABLISHED IN ETHIOPIA
(Thomson Reuters ONE) -
Sika AG /
SIKA DRIVES FORWARD OPERATIONAL IMPLEMENTATION IN AFRICAN GROWTH MARKET:
PRODUCTION FACILITY ESTABLISHED IN ETHIOPIA
. Processed and transmitted by Nasdaq Corporate Solutions.
The issuer is solely responsible for the content of this announcement.
Approximately one year after its national subsidiary was founded in Ethiopia,
Sika is opening the first concrete admixture production plant in the country.
Sika is the first-ever international company to manufacture its products
locally, and the move creates a base from which to build up business activities
in the growth market, which has a total population of approximately 100 million.
Paul Schuler, Regional Manager EMEA: "The new factory in Ethiopia is part of the
systematic implementation of our Africa strategy. We are playing a pioneering
role in setting up local production, and this will bring us significant
competitive advantages. Customers will benefit from local product formulations
that are perfectly adapted to the raw materials and local requirements, as well
as from shorter delivery times. This step creates a foundation for further
growth in this promising market."
STRONG CONSTRUCTION INDUSTRY GROWTH RATES EXPECTED
By establishing its factory in Addis Ababa Sika is positioning itself in a
megacity. Ethiopia is the second biggest economy in sub-Saharan Africa in
population terms, and the fourth biggest in terms of economic output. One of the
factors benefiting the construction sector is the government's Growth and
Transformation Plan. According to forecasts, construction is set to grow by
approximately 11% annually in the period up to 2025 and thus more strongly than
other countries in the sub-Saharan region.
CONTACT
Dominik Slappnig
Corporate Communications and
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/2066386/775753.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
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" alt="Nutritional High Launches Its Flagship "FLI" BrandDatum: 20.12.2016 - 09:30 Uhr
Sprache: Deutsch
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