SIKA ACQUIRES CONSTRUCTION TECHNOLOGIES AUSTRALIA
Sika has agreed to acquire Construction Technologies Australia Pty Ltd (CTA), one of the leading suppliers of tile adhesives and associated mortar products in Australia. CTA generated sales of CHF 22 million in 2014 and has 51 employees. The CTA plants bring Sika`s mortar footprint to 79 factories worldwide.
Over the past couple of years CTA has experienced dynamic growth and has established itself as a key supplier to pro dealers with a wide product range comprising tile adhesives and associated mortar solutions.
By acquiring CTA, Sika will extend its manufacturing footprint and considerably leverage its core technology powders/mortars to become a leading supplier in Australia of surface preparation, adhesive and waterproofing products for tiling applications. Furthermore, the CTA range of products will give Sika the opportunity to increase its business in new and existing distribution channels and will provide excellent cross selling opportunities. Distribution of CTA`s products in New Zealand will transfer to Sika (NZ) Ltd. Managing Director Troy Hogan, and other key members of the CTA team, will stay on with Sika to drive the continued success of the business.
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.
Heinz Gisel, Head of region Asia/Pacific: "With the acquisition of CTA we will expand and complement our mortar range in Australia as well as gain access to new market channels. We welcome the new employees on board and look forward to developing the business together."
| DATE | March 27, 2015 | CONTACT | Dominik Slappnig |
| Corporate Communications & | |||
| SIKA AG | Zugerstrasse 50 | Investor Relations | |
| 6341 Baar, Switzerland | TELEPHONE | +41 58 436 68 21 | |
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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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