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Sika buys the New Zealand subsidiary of Fosroc

Published on 2005-07-11. Author : SpecialChem

Sika AG in Baar, Switzerland, has bought the New Zealand subsidiary of the Fosroc Group.

Fosroc New Zealand produces and sells adhesives and seal- ants, waterproofing as well as façade protective materials to the construction industry. Most of the products are sold through a broad-based distribution network.

As a result of the acquisition Sika New Zealand - already a leader in the country's admixture business . will strengthen its position in the adhesives and sealants sector.

Sika will also use Fosroc's existing customer and sales net- work to market other Sika products.

With approximately 70 employees Fosroc New Zealand achieves sales of about CHF 20 mil. annually. The cost of the acquisition totaled approximately CHF 16 mil.

Sika AG

Sika AG, based in Baar, Switzerland, is a leading global supplier of specialty chemicals. Sika offers process materials for sealing, bonding, damping, reinforcing and protecting of load-bearing structures in construction (buildings and infrastructure) and in industry (transportation, automotive, marine and appliances & building components). Sika's product line includes concrete admixtures, specialty mortars, sealants, adhesives, specialty acoustic and rein- forcing materials, structural strengthening systems, industrial flooring and membranes. Locally based operations in 68 countries with over 9'200 employees connect customers directly with Sika and guar- antee for the success of all our partners. With this concept Sika achieves annual sales of approximately CHF 2.6 billion.

Source: Sika AG

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