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Sika Acquires Majority Stake in Chinese Firm

12:03 AM MDT | March 21, 2011 | Deepti Ramesh

Sika (Baar, Switzerland) says its Sika China (Suzhou) subsidiary has agreed to acquire a majority stake in Hebei Jiuqiang Construction Material, a leading supplier of powder concrete admixtures. Financial terms were not disclosed. Hebei Jiuqiang Construction Material employs about 300 people and had sales of Rmb225 million ($35 million) in 2010, Sika says. The company’s production facilities are located 280 kms southwest of Beijing, close to Shijiazhuang, the capital of Hebei province. This acquisition will enable Sika to offer a complete portfolio of...

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