18 October 2016
Ronacrete is a leading manufacturer of
repair mortars, tile adhesives and
other specialty products
for the Hong Kong construction industry.
With its excellent technical expertise the company
has built up a strong specification business
over the last few decades and has established
itself as a preferred partner for private
and public key developers in Hong Kong.
Ronacrete is based in Hong Kong and operates
an efficient production facility
in the neighbouring Guangzhou province
DETAILS
Sika has agreed to acquire
one of the leading suppliers of repair mortars,
tile adhesives and other mortar products in Hong Kong.
This acquisition is in line with the global expansion
of the high-margin mortar business
– a core component of Strategy 2018.
The Ronacrete plant brings Sika’s mortar footprint
to 89 factories worldwide.
Hong Kong is a mega city with a rising demand
for refurbishment. The construction market
is expected to grow by more than 5% annually
over the course of the next five years, also
driven by an increase in public housing projects.
By acquiring Ronacrete, Sika will extend
its manufacturing footprint to better serve this market.
The wider product range and improved market access
will allow the combined businesses
to fully participate
in the growing Hong Kong construction market.
Heinz Gisel,
Regional Manager Asia/Pacific
“The acquisition represents a further step
in the expansion of Sika’s mortar business.
It will provide us with access to new market channels
and a comprehensive mortar range
with an established market position.
We welcome the Ronacrete employees
to the Sika team and look forward to
growing our business together.”
CONTACT SIKA
Dominik Slappnig
Corporate Communications & Investor Relations
+41 58 436 68 21
slappnig.dominik@ch.sika.com
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