Cement News tagged under: Sika
Sika makes management changes19 September 2023, Published under Cement NewsSika has announced changes to its board of directors and group management ahead of its growth strategy 2028 announcement on 3 October 2023. Thierry F J Vanlancker will be proposed as the company’s new chair of the board of directors at the next annual general meeting in 2024, replacing Paul Hälg who has decided to step down from this position after 12 years. Mr Vanlancker has been a member of the board at Sika since 2019 and held various management positions in the chemical sector. Comment... |
Sika concrete recycling technology receives US$11m in funding30 August 2023, Published under Cement NewsSika has received CHF10m (US$11.34m) in funding for its innovative reCO2ver ® concrete recycling technology. ReCO2ver involves a novel concrete recycling process that allows old concrete to be entirely reused while facilitating the sequestration of CO 2 . To support the use of the technology, Switzerland’s Climate Cent Foundation is guaranteeing the purchase of CO 2 certificates from the programme for an initial amount of CHF10m. Sika’s reCO2ver technology not only separates old concret... |
Sika acquires Thiessen Team USA07 July 2023, Published under Cement NewsSika has acquired Thiessen Team USA, a US manufacturer of shotcrete and grouting products for the mining industry. The acquisition will open up significant cross-selling potential and will support Sika’s expansion in the US mining market, says the company. Thiessen operates two production facilities, strategically located close to large mines in the western US area. Increasing sustainability requirements in mining operations represents a significant potential for Sika’s robust range... |
Sika continues Indian expansion03 July 2023, Published under Cement NewsSika is opening a new plant in Kharagpur, eastern India, as it continues to expand its production capacity in the Indian market. The plant will manufacture mortar products, concrete admixtures, and shotcrete accelerators for customers in the West Bengal region, which has more than 100m inhabitants. Alongside state-of-the-art manufacturing lines, the new factory includes office space, laboratories, and warehousing and logistics. Sika now has twelve manufacturing facilities in India and h... |
Sika completes MBCC acquisition04 May 2023, Published under Cement NewsSika has completed its acquisition of MBCC Group. Based in Germany and formerly owned by an affiliate of Lone Star Funds, MBCC Group is active in the field of construction systems and admixture systems. To close the transaction and to comply with regulatory requirements, Sika sold MBCC Group’s chemical admixtures assets in the UK, USA, Canada, Europe, Australia and New Zealand to the international private equity firm Cinven. The business now acquired by Sika generated sales of CHF2.1bn (U... |
Sika confirms record EBIT for 202221 February 2023, Published under Cement NewsSika has reported a record-high operating profit (EBIT) for 2022, coming in at CHF1579.7m (US$1709m), up 13.5 per cent YoY. The EBIT margin for 2022 stands at 15.1 per cent, compared to 15 per cent in the previous year. The company had already released its 2022 results in January this year, which saw sales exceed CHF10bn for the first time, but had predicted a record EBIT and an EBIT margin of 15 per cent, both of which have been now been confirmed. According to the company, at its AGM on ... |
Sika reports record sales in excess of CHF10bn12 January 2023, Published under Cement NewsIn 2022 Sika reported sales in excess of CHF10bn (US$10.83bn) for the first time as the company saw sales growth of 15.8 per cent in local currencies compared to the previous year. Total sales came in at CHF10.49bn despite the increasingly difficult backdrop of rising raw material prices and a slowdown in construction sector growth in the second half of the year. In the EMEA region sales increased by 8.3 per cent YoY in local currencies in 2022, despite Sika’s distribution business ... |
Sika requests "fast track" remedy from CMA26 October 2022, Published under Cement NewsSika AG and MBCC Group have asked the UK’s Competition & Markets Authority (CMA) to consider a “fast-track” remedy to address concerns that their merger could harm the construction industry in the UK. In November 2021 Swiss firm Sika agreed to buy the German-based MBCC Group in a GBP4.5bn (US$5.1bn) deal. Sika and MBCC are the two largest UK suppliers of chemical admixtures used in the production of cement. Together they account for over half of the UK supply. Following an initial Phase ... |
Sika sees sales advance 18% YoY in 1H2225 July 2022, Published under Cement NewsSika has reported an 18 per cent YoY increase in sales to CHF5250.3m (US$5424m) in the first half of 2022. In local currencies this equates to growth of 19.5 per cent. Operating profit (EBIT) over the same period advanced by 22.7 per cent YoY to CHF841.9m with a record EBIT margin of 16 per cent. According to the company, higher input costs due to a substantial rise in the cost of raw materials were offset by price increases, despite the difficult geopolitical and macroeconomic environment. ... |
Sika to open new US concrete admixtures plant29 June 2022, Published under Cement NewsSika is opening a new manufacturing plant for concrete admixtures in Stafford, Virginia, USA to help meet demand in the Northeast and Mid-Atlantic regions. According to the company, the new plant is well positioned to support the addiitonal needs of the announced infrastructure programme of CHF200-250bn (US$209-216bn) in these two regions. The new facility in Stafford will be the second-biggest manufacturing plant for Sika concrete admixtures in the USA. "This investment allows us to sign... |