Sika : STRONG START TO THE YEAR
In the EMEA region (Europe, Middle East, Africa) sales increased by 10.2% (previous year: 12.4%). The major EU countries with the core markets of Spain and the UK also exhibited growth. The Middle East, Eastern Europe and Africa delivered very impressive growth rates. In the beginning of 2018, Sika acquired Index Construction Systems and Products, a leading manufacturer of roofing and waterproofing systems headquartered close to Verona, Italy. By acquiring Index, Sika will extend its product range and significantly strengthen its position in the Italian market.
The newly formed Americas region generated growth of 12.2% (previous year: 14.0%), of which 5.5% was achieved through acquisitions. The harsh North American winter led to the postponement of numerous large projects. Mexico and Argentina continue to exhibit above-average development. The basis for further growth in Central America was laid with the establishment of a new national subsidiary in Honduras.
Growth in the Asia/Pacific region amounted to 3.9% (previous year: 7.1%). The highest growth rates were recorded by India, Australia and New Zealand. China and Japan also contributed to growth in this region. In Vietnam, a state-of-the-art facility for mortar production has come on stream in the Bac Ninh plant alongside the existing production of concrete admixtures. This will enable Sika to continue its dynamic growth in this country's booming construction market.
The new Global Business segment recorded a growth rate of 20.9% (previous year: 3.3%). Among other things, this includes the globally managed automotive business as well as the two acquisitions Axson Technologies and Faist ChemTec - which are both established providers of components and solutions for the automotive area and also managed globally.
Sika AG published this content on 17 April 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 17 April 2018 03:06:02 UTC