Sika to sell Sarna Plastec AG
Sika AG is selling Sarna Plastec AG, Sarnen, Switzerland, in a management buyout to Kurt Mäder, the company's managing director, and Andre Strasser, head of marketing and sales. Sarna Plastec AG develops, manufactures and sells customer-specific solutions in foams and plastic films. In 2006, the company reached a turnover of approximately CHF 13 mil. The parties agreed not to disclose the purchase price.
With the takeover of Sarna Polymer Holding Inc. in 2005, Sarna Plastec AG became part of the Sika Group. According to the company, Sarna Plastec operates in specialty niche markets that are not part of Sika's strategic focus. The completion of the transaction is to take place in the next few weeks.
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