MOSCOW (MRC) -- Swiss specialty and construction chemicals company Sika has acquired Shenzhen Landun Holding, a manufacturer of waterproofing systems in China, for an undisclosed sum, said the producer in its press release.
Shenzhen Landun has a range of waterproofing products and technologies that "perfectly" complement Sika’s portfolio, Sika said.
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 facilities, Sika will be able to strengthen its local supply chain and bring its products and services closer to the market.
Shenzhen Landun employs 200 people and has two plants where it manufactures membranes and coatings for various waterproofing applications, mainly supplying infrastructure and commercial projects.
As MRC informed earlier, Sika commissioned a manufacturing facility in Dubai, United Arab Emirates (UAE), which produces epoxy resins aimed at flooring solutions. Sika has decided to invest in the expansion of its manufacturing facilities at the Dubai site in order to increase flexibility in production, shorten delivery times, optimize cost structures, and reduce inventories.
We remind that Russia's output of chemical products rose in June 2021 by 10.2% year on year. However, production of basic chemicals increased year on year by 8.2% in the first six months of 2021, according to Rosstat's data. June production of polymers in primary form was 937,000 tonnes versus 956,000 tonnes in May. Russia's overall output of polymers in primary form totalled 4,460,000 tonnes over the stated period, up by 12.8% year on year.
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 101 countries around the world and manufactures in over 200 factories. Its more than 20,000 employees generated annual sales of CHF 7.09 billion in 2018.