Sika AG / Sika Strengthens Position in Korean Tunnel Waterproofing Market . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.
Sika Korea has agreed to acquire YEAN-IL INDUSTRIAL Co. Ltd. waterproofing business. YEAN-IL holds a leading position in the Korean tunnel waterproofing market with annual sales of approximately CHF 10 million.
Sika AG has through its Korean subsidiary, Sika Korea Ltd., agreed to acquire 100% of YEAN-IL's waterproofing business. YEAN-IL INDUSTRIAL Co. Ltd. is a market leader in tunnel waterproofing membranes in South Korea with a well-established brand and long project history.
YEAN-IL is located approx. 100 km south of Seoul and was established in 1973 by Mr. Myung Ryul Kim. Both the founder and his son (and current CEO) will stay with the business focusing on its integration and further development.
The acquisition of YEAN-IL's waterproofing business will enable Sika to expand its market position in the Korean infrastructure sector and to offer a wide array of combined product solutions and technologies tailored to the requirements of the local market.
| Sika AG Zugerstrasse 50 CH-6341 Baar, Switzerland www.sika.com (http://www.sika.com) | Contact: Dominik Slappnig Corporate Communications & Investor Relations Tel.: +41 58 436 68 21 Fax: +41 58 436 68 50 slappnig.dominik@ch.sika.com (mailto:slappnig.dominik@ch.sika.com) |
Sika AG Corporate Profile
Sika AG, located in Baar, Switzerland, is a globally active specialty chemicals company. Sika supplies the building and construction industry as well as manufacturing industries (automotive, bus, truck, rail, alternative energies, building components). Sika is a leader in processing materials used in sealing, bonding, damping, reinforcing and protecting load-bearing structures. Sika's product lines feature high-quality concrete admixtures, specialty mortars, sealants and adhesives, damping and reinforcing materials, structural strengthening systems, industrial flooring as well as roofing and waterproofing systems. Worldwide local presence in 76 countries and some 14 000 employees link customers directly to Sika and guarantee the success of all partners. Sika generated annual sales of CHF 4.55 billion in 2011. Visit our website at www.sika.com (http://www.sika.com).
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Source: Sika AG via Thomson Reuters ONE
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