BRUSSELS (dpa-AFX) - Sika AG (SKFOF.PK, SXYAY.PK, SIKA.SW), a specialty chemicals manufacturer, Friday said that it has acquired Azpects Group, a UK-based manufacturer of polymeric sands for the landscaping sector. The acquisition is expected to strengthen Sika's presence in the landscaping market and expand its product portfolio and distribution reach in the UK.
The company said that Azpects' landscaping products complement its existing portfolio and distribution network, thus creating cross-selling opportunities across trade channels and enabling the combined business to offer a broader range of products to building materials distributors.
The acquisition also provides opportunities to optimize Sika's UK manufacturing footprint by making use of Azpects production facility. The combined operations are expected to generate cost synergies through improved manufacturing and logistics efficiency, the company added in an official statement.
On the Swiss Exchange, SIKA.SW ended Thursday's trading at 170.85 Swiss francs, down 2.90 francs or 1.7 percent.
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