Press Release: SIKA ACQUIRES MARKET LEADER IN ROOFING AND WATERPROOFING SYSTEMS IN EGYPT

SIKA ACQUIRES MARKET LEADER IN ROOFING AND WATERPROOFING SYSTEMS IN

EGYPT

Sika has acquired Modern Waterproofing Group, a leading manufacturer of

roofing and waterproofing systems in Egypt. The acquisition supplements

and rounds off the product portfolio of Sika Egypt and offers new

opportunities for growth in the Egyptian construction market. The

acquired business generates annual sales of CHF 26 million.

Modern Waterproofing is based in Cairo with a production facility in

Badr City which is a logistically ideal location close to Cairo and the

New Administrative Capital. It manufactures solutions for the

waterproofing and roofing markets, focusing on a comprehensive range of

modified bitumen membranes. As complementary products, the company also

offers liquid coatings and insulation boards. With its solid reputation

as a high-quality company, Modern Waterproofing has established itself

as a market leader for bituminous membranes. It has reached this

position by developing an extensive product portfolio which provides

solutions for each segment of the market, meeting the needs of

applicators and distributors.

The acquisition will extend and complete Sika Egypt's offering of

roofing, waterproofing, and building envelope systems. The production

site will strengthen the local supply chain and the technical know-how

as well as offer the possibility to efficiently serve other African

countries.

Ivo Schädler, Regional Manager EMEA: "Modern Waterproofing will

enhance our market access to various customer segments both in direct

sales and through the distribution channels. This will open up promising

cross-selling opportunities in the area of waterproofing and roofing.

The expanded product portfolio will significantly strengthen our

position in the Egyptian construction market. We would like to welcome

the employees of Modern Waterproofing to our Sika team and look forward

to growing our business together."

CONTACT

Dominik Slappnig

Corporate Communications &

Investor Relations

+41 58 436 68 21

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slappnig.dominik@ch.sika.com

SIKA CORPORATE PROFILE

Sika is a specialty chemicals company with a leading position in the

development and production of systems and products for bonding, sealing,

damping, reinforcing and protecting in the building sector and motor

vehicle industry. Sika has subsidiaries in 100 countries around the

world and manufactures in over 300 factories. Its more than 25,000

employees generated annual sales of CHF 8.1 billion in 2019. At the end

of 2019 Sika won the Swiss Technology Award for a groundbreaking new

adhesive technology.

The media release can be downloaded from the following link:

Media Release

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(END) Dow Jones Newswires

June 08, 2020 01:00 ET (05:00 GMT)