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SIKA COMPLETES ACQUISITION OF AKZONOBEL'S BUILDING ADHESIVES BUSINESS

Sika has completed the acquisition of AkzoNobel's Building Adhesives business on October 1, 2013. The deal was announced on August 8, 2013. With annual sales of CHF 228 million, AkzoNobel Building Adhesives is a top-three player in its core European markets and employs 550 people. With this acquisition, Sika will increase its product offering for interior finishing in its Flooring, Sealing & Bonding and Refurbishment markets.

The Building Adhesives business of AkzoNobel has a strong focus on the top quality segment through its leading brands Schönox, Cégécol, Casco, Synteko and EriKeeper. With two production sites in Germany and France and a pan-European distribution network, it supplies its customers with successful and innovative products.

By acquiring the Building Adhesives business of AkzoNobel, Sika increases its product offering for interior finishing, particularly targeting the professional craftsman. Sika benefits from a complementary product portfolio which is well established within important European countries such as Germany, France, the Netherlands and the Nordics, and which will be rolled out through Sika's European and worldwide sales channels. About 65% of the acquired business is related to the renovation- and refurbishment market. Main technologies are gypsum and cement-based formulations for floor levelling compounds and water borne floor and tile adhesives.

The expertise and competence of AkzoNobel's Building Adhesives in floor adhesives and cementitious underlayments complements Sika's leading role in resin based flooring. It fits into Sika's strategy for hybrid flooring systems with its modular build-up designed to the individual needs of customers around the globe.

Furthermore, Sika expands its position in the sealing and bonding market that sees growing demand due to a focus on energy efficient building envelopes, ever greater variety of materials used in construction, increasing urbanization which means more high-rise projects, and growing significance of low emitting materials for good indoor air quality.

Jan Jenisch, CEO of Sika: "We are happy to welcome the successful team from AkzoNobel's Building Adhesives business in the Sika family. The acquisition will make Sika a strong player in the interior finishing market, increasing and complementing our product offerings for Flooring, Sealing & Bonding and Refurbishment."

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