SIKA ACQUIRES FULL-RANGE WATERPROOFING EXPERT IN CHINA
Sika acquires Shenzhen Landun Holding Co., Ltd., a manufacturer of waterproofing systems in China. The company offers a comprehensive range of waterproofing products and technologies, perfectly complementing Sika's existing portfolio. The combined offering will provide new growth opportunities in the fast-growing Chinese waterproofing market.
Landun is a highly regarded provider of waterproofing solutions with strong customer relationships and a well-recognized brand. The company operates two modern production facilities where it manufactures a full range of membranes and coatings for various waterproofing applications, mainly supplying infrastructure and commercial projects.
The acquisition provides a platform for Sika to further grow and strengthen its position in the fast-growing Chinese waterproofing market. The product portfolios of the two companies are highly complementary and offer large cross-selling potential through their respective channels. With the two acquired manufacturing facilites, Sika will be able to strengthen its local supply chain and bring its products and services closer to the market.
Mike Campion, Regional Manager Asia/Pacific: "With the acquisition of Landun we follow our growth strategy by complementing our product portfolio and expanding our manufacturing footprint. This brings us closer to our customers and enables us to provide them with first-class service and solutions. The extended product portfolio will strengthen our position in the Chinese waterproofing market and support market share gains. We warmly welcome the more than 200 Landun employees to the Sika family and look forward to successfully developing this growing business together."
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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 motor vehicle industry. Sika has subsidiaries in 100 countries around the world and manufactures in over 300 factories. Its 25,000 employees generated annual sales of CHF 7.88 billion in 2020.
The media release can be downloaded from the following link:
Media Release https://www.globenewswire.com/Tracker?data=wHzbisg1LDqhZzmoplZ8KFogNhubUwCHuADKiRbTrJwJxD-Q84SnmYr1YXzlr0wXyTDa0hqcLY0E-vhjIF2hPK50ms_vLFdULI5EjH_GbFdP5moQFtW0_nTq8ULNL32sMi79ZbquRY0jJr3biO_e7D4hXnmrghxzoKIyhuvAH6s=
(END) Dow Jones Newswires
August 24, 2021 12:00 ET (16:00 GMT)