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Sika AG (PinkSheets:SKFOF) Corporate news announcement processed and transmitted by Hugin ASA. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- --------------
Sika AG announces that its Chinese subsidiary, Sika (China) Ltd., has entered into a partnership with Sichuan Keshuai Additive Co., Ltd., a leading supplier of concrete additives to the dynamically growing Western China markets.
Sichuan Keshuai Additive Co., Ltd. was established by Mr. Shuai Xiwen, a pioneer and preeminent expert in the field of concrete admixtures. Sichuan Keshuai Additive Co., Ltd. has approximately 130 employees and 2007 sales of about CHF 18 million. The company's main production facilities are located near Chengdu in the western province of Sichuan. Sika is acquiring a majority stake of the company. The parties have agreed not to disclose the sales price.
Sichuan Keshuai Additive Co., Ltd. is well respected for its products, technology and people. The company has access to an extensive distribution network in Western China. The co-operation will enable the parties to support the construction industry in this dynamic region with a broader range of locally produced world class products and technologies.
Sika (China) Ltd is based in Suzhou, Jiangsu Province. -END-
Sika AG Zugerstrasse 50 CH-6341 Baar, Switzerland www.sika.com
Sika AG - a corporate profile Sika AG, located in Baar, Switzerland, is a globally active company supplying the specialty chemicals markets. It is a leader in processing materials used in sealing, bonding, damping, reinforcing and protecting load-bearing structures in construction (buildings and infrastructure construction) and in industry (vehicle, building component and equipment production). Sika's product lines feature high-quality concrete admixtures, specialty mortars, sealants and adhesives, damping and reinforcing materials, structural strengthening systems, industrial flooring and membranes. Subsidiaries in more than 70 countries worldwide and approximately 11,000 employees link customers directly to Sika and guarantee the success of all of its business relationships. With this business structure Sika generates annual sales of CHF 4.6 billion. Visit our website at www.sika.com.
The media release can be downloaded from the following link:
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Sika AG Zugerstrasse 50 Baar
WKN: 858573; ISIN: CH0000587979; Index: SMCI, SPI, SPIEX, SMIEXP, SMIM; Listed: Main Market in SWX Swiss Exchange;
