SIKA ESTABLISHES 98TH NATIONAL SUBSIDIARY IN SENEGAL
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Sika AG /
SIKA ESTABLISHES 98TH NATIONAL SUBSIDIARY IN SENEGAL
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Sika is expanding its presence in West Africa and is establishing a new national
subsidiary in Senegal - following those in Nigeria, Ivory Coast and Cameroon.
After Ivory Coast, Senegal is the country with the fastest growth in the region.
A local production facility for concrete admixtures is already being planned,
which will subsequently be expanded to include mortar products. The company has
a strong presence in Africa with 19 national subsidiaries and 17 factories.
Paul Schuler, Sika Regional Manager EMEA: "We are positioning ourselves early in
emerging markets such as Senegal. Large-scale investment projects in
infrastructure, transport, energy and water combined with recently discovered
oil reserves will contribute to this emerging country's development. Our growth
strategy in Africa is paying off. Over the last five years we have increased
sales by an average of 22% per year."
INFRASTRUCTURE INVESTMENTS AS GROWTH DRIVER
Senegal's economy has grown by over 5% on average in the past three years.
According to latest forecasts, the economic growth of the country is expected to
increase by 6.5% this year. A main growth driver for the country's economy and
construction sector is the "Plan for an Emerging Senegal" with a time horizon of
2035 which aims to boost urban centers with significant economic potential
through infrastructure projects and other measures. Key transport infrastructure
projects are being partly co-financed by the European Investment Bank and the
European Union.
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 automotive industry. Sika
has subsidiaries in 98 countries around the world and manufactures in over 190
factories. Its more than 17,000 employees generated annual sales of CHF 5.75
billion in 2016.
CONTACT
Dominik Slappnig
Corporate Communications & Investor Relations
+41 (0)58 436 68 21
slappnig.dominik(at)ch.sika.com
The media release can be downloaded from the following link:
Media Release:
http://hugin.info/100359/R/2098595/794890.pdf
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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: 26.04.2017 - 09:30 Uhr
Sprache: Deutsch
News-ID 538375
Anzahl Zeichen: 3054
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