Displaying items by tag: Sika

Dominican Republic: Sika has acquired concrete admixtures, fibres, adhesives and sealants producer Vinaldom. Nasdaq News has reported that the deal brings Sika into possession of its first plant in the Dominican Republic and its sixth in the Caribbean. The group says that the integration of Vinaldom offers ‘significant’ cross-selling opportunities.

Americas regional manager Mike Campion said "With Vinaldom, we will be able to serve and supply our customers in the Dominican Republic even better. The increased access to a broader customer base, supported by local manufacturing, will contribute to further expansion in the Dominican market. We warmly welcome the Vinaldom employees to the Sika team and look forward to growing our business together.”

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.

China: Switzerland-based Sika has opened its new Suzhou Technology Centre in Jiangsu Province. The centre will help Sika to develop its sustainable and high-performance technologies in order to grow it market potential throughout the Asia/Pacific region. By strategically expanding its research and development activities across all core technologies, Sika aims to further strengthen its global innovation leadership.

Chief innovation and sustainability officer Patricia Heidtman said "With our new technology centre, we are strengthening our innovation capabilities in the Asia/Pacific region and are fostering synergies in sustainable construction and environmentally friendly mobility. We have created the ideal framework for close collaboration between our research teams. It will thus enable us to develop forward-looking technologies for our customers that combine sustainability with performance."

US: Switzerland-based Sika is starting up production at a new concrete admixtures plant at Stafford in Virginia that opened earlier in 2022. The 3950m² facility has a production capacity of 50,000t/yr and two mixers with a capacity greater than 27,000l each. The unit is intended to serve markets in the Northeast and Mid-Atlantic regions along with the company’s existing concrete admixtures plant at Fairless Hills in Philadelphia.

Christoph Ganz, Regional Manager Americas said "This investment allows us to significantly expand our production capacity while creating the best possible conditions for continued growth in the North American market. Our concrete admixtures satisfy the construction sector’s most demanding requirements and make it possible to produce higher-performance, resource-saving concrete. Sika admixtures enable the realisation of critical infrastructure projects, are used in state-of-the-art high-rise construction, and help increase sustainability in megacities."