Sika divests bituminous coatings production in Germany
In keeping with its plan to strengthen its focus Sika is selling its production of bituminous coatings and withdrawing from the business of supplying coatings to the cast iron pipe industry. Together with the Sika operation in Gelsenkirchen, Germany, these customers will henceforth be served by Walter Maeder Aqualack GmbH, a subsidiary of the Switzerland-based Walter Maeder AG.
Walter Maeder Aqualack GmbH will retain all 27 employees in production and logistics at the Gelsenkirchen site. To assure continued utilization of the plant and to keep its jobs secure, Sika has agreed with Walter Maeder Aqualack GmbH to have some Sika product lines produced on a tolling basis. The divested product group achieved sales of about CHF 5 million per year. The parties agreed not to disclose the purchase price.
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