Sika AG / Sika Strengthens Engineered Waterproofing Business in North America processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
Sika AG announces that its U.S. subsidiary, Sika Corporation, has acquired the Greenstreak Group, Inc. The transaction closed on July 1, 2010. Headquartered in St. Louis, MO, annual revenues for Greenstreak are approximately $30 million USD. Sika expects this acquisition will further strengthen its leadership position in the North American construction industry - particularly in the area of engineered waterproofing.
Since 1950, Greenstreak has been manufacturing high quality, high value products for the construction industry, including engineered waterstops and joint seals, doweling systems, architectural form liners, pipeline protections, and a wide range of forming accessories.
Over the past 20 years, Greenstreak has achieved a leading position in waterstops and watertight system solutions for concrete construction in North America. Its efficient production facility in St. Louis, brings strong manufacturing technology and expertise to Sika North America. Finally, Greenstreak also brings a strong, well-known brand that is highly respected in the civil engineering and architectural communities. Following the acquisition of the European-based Tricosal in 2008, Greenstreak now gives Sika ownership of the 3 globally strong engineered waterstop brands: Sika - Tricosal - Greenstreak.
Used on some of the most notable projects worldwide, Greenstreak products are an ideal fit into the Sika Corporation product line. Greenstreak's innovation, engineering, and top quality craftsmanship are a perfect pairing with Sika's customer-first philosophy. The acquisition is yet another milestone in Sika's commitment to providing its customers with expert quality, service, and innovation through a wide array of products, system solutions and technologies.
Upon completing the transaction, Greenstreak with approximately 100 employees will operate as a subsidiary of Sika Corporation and will be managed by the existing Greenstreak management team
Sika Corporation is based in Lyndhurst, New Jersey.
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| Sika AG Zugerstrasse 50 CH-6341 Baar, Switzerland www.sika.com (http://www.sika.com/) | Contact: Rainer Weihofen, Corporate Communications & Investor Relations Tel.: +41 58 436 68 00 Fax: +41 58 436 68 50 weihofen.rainer@ch.sika.com (mailto:weihofen.rainer@ch.sika.com) |
Sika AG Corporate Profile
Sika AG, located in Baar, Switzerland, is a globally active company supplying the specialty chemicals markets. It is a leader in processing materials used in sealing, bonding, damping, reinforcing and protecting load-bearing structures in construction (buildings and infrastructure construction) and in industry (vehicle, building component and equipment production).
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. Subsidiaries in more than 70 countries worldwide and approximately 12 000 employees link customers directly to Sika and ensure the success of all our partners. Sika achieves annual sales of CHF 4.2 billion. Visit our website at www.sika.com (http://www.sika.com).
The media release can be downloaded from the following link:
HUG#1429148
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Sika AG
Zugerstrasse 50 Baar null
WKN: 858573;ISIN: CH0000587979;
