Sika expands its concrete admixtures business in Eastern China
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ Sika AG announces that its Chinese subsidiary, Sika (China) Ltd., hasacquired a majority stake in Jiangsu TMS Admixture Co., Ltd., aleading supplier of concrete additives to the Eastern China markets.Jiangsu TMS Admixture Co., Ltd. has approximately 120 employees and2008 sales of RMB 95 million (approx. CHF 15 million). The company'smain production facilities are located near Nanjing, in Jiangsuprovince. Sika is acquiring a majority stake in the company. Theparties have agreed not to disclose the sales price.Jiangsu TMS Admixture Co., Ltd. was established by Mr. Guozhong Chena pioneer and preeminent expert in the field of concrete admixtures.Jiangsu TMS Admixture Co., Ltd is well respected for its products,technology leadership and people. The company has access to anextensive distribution network in Eastern China.The co-operation will enable the parties to support the constructionindustry in these dynamic regions with a broader range of locallyproduced world class products and technologies.Sika (China) Ltd is based in Suzhou, Jiangsu province. -END-Sika AGZugerstrasse 50CH-6341 Baar, Switzerlandwww.sika.comContact: Rainer Weihofen,Corporate Communications & Investor RelationsTel.: +41 58 436 68 00Fax: +41 58 436 68 50weihofen.rainer(at)ch.sika.comSika AG Corporate ProfileSika AG, located in Baar, Switzerland, is a globally active companysupplying the specialty chemicals markets. It is a leader inprocessing materials used in sealing, bonding, damping, reinforcingand protecting load-bearing structures in construction (buildings andinfrastructure construction) and in industry (vehicle, buildingcomponent and equipment production).Sika's product lines feature high-quality concrete admixtures,specialty mortars, sealants and adhesives, damping and reinforcingmaterials, structural strengthening systems, industrial flooring aswell as roofing and waterproofing systems. Subsidiaries in more than70 countries worldwide and approximately 12,900 employees linkcustomers directly to Sika and guarantee the success of all of itsbusiness relationships. With this business structure Sika generatesannual sales of CHF 4.6 billion. Visit our website at www.sika.com.The media release can be downloaded from the following link:http://hugin.info/100359/R/1343286/321738.pdf --- End of Message ---Sika AGZugerstrasse 50 Baar WKN: 858573; ISIN: CH0000587979; Index: SMCI, SPI, SPIEX, SMIEXP, SMIM;Listed: Main Market in SIX Swiss Exchange;
Datum: 24.09.2009 - 07:01 Uhr
Sprache: Deutsch
News-ID 6154
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