Swiss Sika buys waterproofing membrane factories in Mexico, India

15 July 2013 09:38  [Source: ICIS news]

SINGAPORE (ICIS)--Sika has signed an agreement with French industrial group Soprema to acquire waterproofing membrane manufacturers in Mexico and India, for an undisclosed amount, the Swiss manufacturer said on Monday.

JMTexsa SA de CV of Mexico and Texsa India Ltd generated a combined annual sales of Swiss francs 23m ($24m) last year and have a total of 100 employees, Sika said in a statement.

"These acquisitions enable us to further accelerate our growth strategy in the emerging markets," said Sika CEO Jan Jenisch in the statement.

($1 = Swfr0.95)

By: Yaw Min Jie
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