BRUSSELS (dpa-AFX) - Swiss specialty chemicals company Sika AG (SIKA.SW, SKFOF.PK, SXYAY.PK) on Monday announced the acquisition of Duproof, a Dubai-based waterproofing membranes manufacturer, to strengthen its local presence and expand its market share across construction segments.
Financial terms of the transaction were not disclosed.
The company plans to integrate Duproof's bituminous waterproofing membranes into specifications for major projects.
Duproof's products will be available through Sika UAE's distributor network, while Sika will gain access to Duproof's network of contractors and applicators, creating cross-selling opportunities.
The acquisition will also strengthen Sika's regional waterproofing supply network in the Middle East, along with its existing manufacturing facilities in Saudi Arabia and Egypt.
Sika closed Friday's trading 2.33 percent lower at 180.20 Francs on the Swiss Exchange.
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