21.06.2016 10:30:53
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Press Release: SIKA STRENGTHENS PRESENCE IN LATIN AMERICA
Sika AG / SIKA STRENGTHENS PRESENCE IN LATIN AMERICA . Processed and transmitted by Nasdaq OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.
Sika continues to expand its presence in Latin America. Another mortar factory has come on stream in Ecuador, and a new subsidiary has been set up in Nicaragua. These two growth initiatives tap into additional potential in Latin America and mark the ongoing successful implementation of Strategy 2018.
The new mortar factory in Durán near Guayaquil includes a packaging and logistics unit in addition to the production lines that will expand the product portfolio in the fast-growing mortar segment. The production facility is Sika's second in Ecuador. The increased production capacity will enable Sika to expand its market share and continue to tap into the potential offered by Ecuador's construction sector.
NEW SUBSIDIARY IN NICARAGUA
Sika has set up a new subsidiary in the Nicaraguan capital Managua so that it can distribute its own products and further increase its share in the country's flourishing construction market. Sika products have been marketed through distributors in the country since 1998 and are an established brand.
Nicaragua is one of strongest growing countries in Latin America. The development of the country's infrastructure, which includes road and mining projects, ports, hospitals and schools, is in under realization. Residential construction offers further potential. According to forecasts, cement consumption in the country's booming construction sector is set to triple over the next few years.
CONTACT
Dominik Slappnig
Corporate Communications and
Investor Relations
+41 58 436 68 21
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 protection in the building sector and automotive industry. Sika has subsidiaries in 95 countries around the world and manufactures in over 170 factories. Its more than 17 000 employees generated annual sales of CHF 5.49 billion in 2015.
The media release as pdf and an image can be downloaded from the following link:
Sika's new plant in Ecuador http://hugin.info/100359/R/2021784/751151.jpg Media Release: http://hugin.info/100359/R/2021784/751152.pdf
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Sika AG via Globenewswire
HUG#2021784
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Sika AG
Zugerstrasse 50 Baar Switzerland
WKN: 858573;ISIN: CH0000587979;
http://www.sika.com (END) Dow Jones Newswires
June 21, 2016 04:00 ET (08:00 GMT)- - 04 00 AM EDT 06-21-16
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