SIKA CONTINUES ITS FAST GLOBAL EXPANSION IN MORTARS - ACQUISITION OF US PRODUCER BMI
Sika has agreed to acquire mortar producer BMI Products of Northern California Inc., a US-based company active in production and sales of a full range of mortar products and systems for the construction industry. The acquisition will accelerate Sika`s global expansion in the fast growing mortar business with an extended new supply chain in the Western US. The BMI plant brings Sika`s mortar footprint to 76 factories worldwide.
BMI Products of Northern California provides an excellent production platform and has developed a comprehensive range of mortar products and systems for the construction industry. The company is located in the city of Milpitas, California (San Francisco Bay Area) and, together with Sika`s Santa Fe Springs production facility near Los Angeles, provides strong access to the large and fast-growing California construction market.
The acquisition of BMI perfectly compliments Sika`s growth strategy in North America and greatly strengthens its supply chain for mortar products sold throughout the Western United States. It also provides Sika with a known brand of specialty products, and an established customer base in the large California market.
The acquisition represents a further step in the expansion of Sika`s mortar business. With 31% growth in 2014, mortar is Sika`s strongest growing product area as well as one of the key elements of the Strategy 2018.
Christoph Ganz, Head of region North America: "This acquisition is a further acceleration of the implementation of our global mortar strategy. It provides us with a solid production platform to further expand the mortars business in the Western US. We are proud to welcome the new employees into the Sika team and we are excited about growing our business together."
DATE | February 27, 2015 | CONTACT | Dominik Slappnig |
Corporate Communications & | |||
SIKA AG | Zugerstrasse 50 | Investor Relations | |
6341 Baar, Switzerland | TELEPHONE | +41 58 436 68 21 | |
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 the motor vehicle industry. Sika has subsidiaries in 90 countries around the world and manufactures in over 160 factories. Its approximately 17,000 employees generated annual sales of CHF 5.6 billion in 2014.
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Source: Sika AG via GlobeNewswire
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