Sika AG acquired the commercial and industrial polymer flooring business of The Valspar Corporation. The transaction closed on January 9, 2008. Revenues for this business totaled approximately US$ 17 million for the fiscal year ended October 26, 2007.
Already a market 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. Approximately 27 employees are expected to join Sika as part of the transaction. The parties have agreed not to disclose the sale price.
The Valspar polymer flooring business, with its strong portfolio of epoxy and polyurethane technology products, is an excellent fit for Sika's focused growth strategy for North America, where its position in the flooring business was weak for historical reasons. With an established, well-respected range of products, people, applicators and distributors, the Valspar polymer flooring business greatly enhances and complements Sika's current position in this key market.
The 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 Valspar 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. Today with the exception of North America Sika is the worldwide leader in the industrial flooring market.
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Sika AG
Zugerstrasse 50
CH-6341 Baar, Switzerland
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 near to CHF 4.6 billion. Visit our website at www.sika.com.
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