BRUSSELS (dpa-AFX) - Sika AG (SXYAY.PK, SKFOF.PK), on Monday announced the acquisition of Bexel Internacional S.A. de C.V., a manufacturer of tile adhesives and stuccos in Mexico.
The company noted that the acquisition strengthens Sika's position in the large, fast-growing Mexican mortar market and significantly extends its manufacturing footprint. In 2020, the acquired company generated sales of CHF 35 million.
Bexel has a strong presence in the distribution channel, mostly focusing on home centers and builders' merchants. Bexel operates five strategically located production plants which complement Sika's existing geographical footprint and further support the strategic focus on big cities. The new site serving Mexico City adds important production capacity, strengthening Sika's position in this fast-growing metropolitan area.
Further, the acquisition strengthens Sika's Building Finishing portfolio and distribution network in Mexico, providing interesting cross-selling opportunities for complementary products such as sealants, adhesives, liquid applied membranes, and waterproofing products.
Christoph Ganz, Regional Manager Americas, said, 'Bexel perfectly complements our geographical footprint and our offering for the large Mexican Building Finishing mortars market. With our combined businesses and the improved market access, we have an excellent platform to further grow and strengthen our position in this market...'
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