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Sika Strengthens Engineered Waterproofing Business in North America

Published on 2010-07-12. Author : SpecialChem

Sika AG announces that its U.S. subsidiary, Sika Corporation, has acquired the Greenstreak Group, Inc. The transaction closed on July 1, 2010. Headquartered in St. Louis, MO, annual revenues for Greenstreak are approximately $30 million USD. Sika expects this acquisition will further strengthen its leadership position in the North American construction industry - particularly in the area of engineered waterproofing.

Since 1950, Greenstreak has been manufacturing high quality, high value products for the construction industry, including engineered waterstops and joint seals, doweling systems, architectural form liners, pipeline protections, and a wide range of forming accessories.

Over the past 20 years, Greenstreak has achieved a leading position in waterstops and watertight system solutions for concrete construction in North America. Its efficient production facility in St. Louis, brings strong manufacturing technology and expertise to Sika North America. Finally, Greenstreak also brings a strong, well-known brand that is highly respected in the civil engineering and architectural communities. Following the acquisition of the European-based Tricosal in 2008, Greenstreak now gives Sika ownership of the 3 globally strong engineered waterstop brands: Sika - Tricosal - Greenstreak.

Used on some of the most notable projects worldwide, Greenstreak products are an ideal fit into the Sika Corporation product line. Greenstreak's innovation, engineering, and top quality craftsmanship are a perfect pairing with Sika's customer-first philosophy. The acquisition is yet another milestone in Sika's commitment to providing its customers with expert quality, service, and innovation through a wide array of products, system solutions and technologies.

Upon completing the transaction, Greenstreak with approximately 100 employees will operate as a subsidiary of Sika Corporation and will be managed by the existing Greenstreak management team.

Sika Corporation is based in Lyndhurst, New Jersey.

Source: Sika AG


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