Sika AG announces that its U.S. subsidiary, Sika Corporation, has acquired the commercial and industrial polymer flooring business of ICS Garland, Inc. Revenues for this business totaled approximately US$ 14 million for the fiscal year ended December 31, 2007.
With its second acquisition in North America this year, Sika has added another long-respected player into its Industrial Flooring business in this region. The ICS Garland polymer flooring business, with its strong portfolio of epoxy, polyurethane, and ESD (Electrostatic Sensitive Devices) technology products, is an excellent fit for Sika's focused growth strategy for North America. With an established, well-respected range of products, people, and quality applicators, the ICS Garland polymer flooring business greatly enhances and complements Sika's fast-growing position in this key market.
Already a global leader in construction chemicals including adhesives and sealants, concrete admixtures, repair and strengthening products, Sika expects that this acquisition will further strengthen its North American position in the polymer flooring market. The parties have agreed not to disclose the sales price. Approximately 45 employees are expected to join Sika as part of the transaction, including the ICS Garland manufacturing facility and offices in Cleveland, Ohio.
This acquisition also creates for Sika the most comprehensive range of epoxy, polyurethane, and other key polymer flooring products and technologies in the industry. Sika is confident that the ICS Garland flooring business, when combined with Sika's broad offering of sales and support services, will enable Sika to offer even greater value to its polymer flooring customers.
Sika Corporation is based in Lyndhurst, New Jersey.
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Contact: Rainer Weihofen,
Corporate Communications & Investor Relations
Corporate Communications & Investor Relations
Tel.: +41 41 768 68 00
Fax: +41 41 768 68 50
Sika AG - a corporate profile
Sika AG, located in Baar, Switzerland, is a globally active company supplying the specialty chemicals markets. It is a leader in processing materials used in sealing, bonding, damping, reinforcing and protecting load-bearing structures in construction (buildings and infrastructure construction) and in industry (vehicle, building component and equipment production).
Sika's product lines feature high-quality concrete admixtures, specialty mortars, sealants and adhesives, damping and reinforcing materials, structural strengthening systems, industrial flooring and membranes. Subsidiaries in more than 70 countries worldwide and approximately 11,000 employees link customers directly to Sika and guarantee the success of all of its business relationships. With this business structure Sika generates annual sales of CHF 4 billion. Visit our website at www.sika.com.
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