Displaying items by tag: Sika
Sika acquires Addiment Italia from Buzzi Unicem
01 July 2015Italy: According to Dow Jones, Sika has acquired the remaining shares of the Italian-based Addiment Italia from its joint venture partner Buzzi Unicem. Addiment Italia, founded in 2003, is active in the production and sale of concrete admixtures and cement grinding aids. The transaction will strengthen Sika's production set up in Italy and increase its market presence. Addiment Italia generated sales of Euro14m in 2014.
"The cooperation between Buzzi Unicem and Sika as joint venture partners of Addiment Italia has continued effectively for more than twelve years, with good understanding of the common goals and management decisions that led to great results for both employees and shareholders. We hope that our future business relationship will continue with the same long-lasting success," said Buzzi Unicem's co-CEO Pietro Buzzi.
"The acquisition will allow us to further build upon the successful partnership between Buzzi Unicem and Sika in the admixture business worldwide and strengthen the operational footprint in Italy. We welcome the new employees on board and look forward to developing the business together," said Paul Schuler, EMEA (Europe, the Middle East and Africa) region head.
Pending LafargeHolcim and Sika deals forge ahead despite SNB’s abandonment of Swiss Franc cap
16 January 2015Switzerland: On 15 January 2015, the Swiss National Bank (SNB) abandoned the Euro1.20 cap on the Swiss Franc, causing market turmoil. However, deals involving domestic companies Holcim and Sika are expected to survive the impact of the shock decision.
Bigger deals are insulated against the effects of the sudden surge in the value of the Swiss currency because the companies involved are able to to buy insurance to protect them against such moves. However, some bankers said that the volatility introduced by the SNB decision to scrap the cap after three years could dampen deal-making in the longer term.
Holcim also said that it remained committed to a planned merger with France's Lafarge despite the move by the SNB that knocked almost Euro2.95bn (3bn Swiss Francs) off Holcim's market value.
"Regarding a possible impact on the combination with Lafarge, what we can say is that we remain committed to the merger," said Holcim spokesman Eike-Christian Meuter. According to Reuters, a spokesman for Lafarge said that it also remains committed to the merger.
Holcim was one of the companies caught up in a 10% all-in Swiss blue chip stocks on fears over the impact on their exporting power. Holcim slumped 20% at one point.
Sika picks up Italcementi’s admixture business
15 December 2011Switzerland/Italy: Sika AG, the Swiss specialty chemicals company, is to acquire the global concrete admixture and cement grinding aid businesses of the Italcementi Group (directly or indirectly controlled by Italcementi or Ciments Français). The businesses are on the market under the brand Axim. Axim has approximately 150 employees in Italy, France, the US, Canada, Morocco and Spain. In 2010 it generated sales of around Euro61m.
"This agreement will allow the group to capitalise the value of this business," said Giovanni Ferrario, COO of Italcementi Group. "Moreover, this will further extend the relationship between Italcementi and Sika, enhancing the reputation of both companies as innovators in the field of concrete and cement."
This acquisition allows Sika to significantly strengthen its market position in the relevant countries. As Sika's CEO, Ernst Baertschi, said, "This acquisition is a major step for Sika in the process of expanding market shares in the admixture business worldwide."