Items filtered by date: Tuesday, 30 July 2024

Switzerland: Chemicals producer Sika reported sales of €6.08bn in the first half of 2024, up by 9% year-on-year. The company’s earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 24% to €920m. During the reporting period, the company successfully integrated Germany-based MBCC. It also acquired US-based Kwik Bond and opened new production facilities in Peru and China. The company confirmed its Strategy 2028 targets for sustainable, profitable growth.

Sika CEO Thomas Hasler said "With our good operating result in the first half of 2024, we have shown that we are in an excellent position to gain market share even in challenging markets. Furthermore, our emissions reduction targets, aiming for net-zero emissions by 2050, have been validated by the Science-Based Targets Initiative (SBTi). This important achievement underscores Sika's commitment to sustainability and its proactive role in decarbonising the construction and automotive industries."

For the full year 2024, Sika forecast 6 – 9% sales growth in local currencies and an over-proportional increase in EBITDA.

UAE: Azizi Developments has poured 22,000m³ of concrete over 56 consecutive hours at the site of its upcoming Azizi Venice housing development in Dubai. TradeArabia News has reported that Azizi Venice will comprise 36,000 residential units, spread over 100 tower blocks and 109 houses.

Chair Mirwais Azizi said "The quality and speed at which our developments manifest from vision into reality fills us with immense pride. This extensive, record-breaking two-day concrete pour, which is the largest of its kind in the UAE, exemplifies – and serves as a testament to – the fast pace of our latest community project."