Swiss construction chemicals giant acquires local firm

DAILY SABAH
ISTANBUL
Published 24.08.2017 23:19
Updated 24.08.2017 23:20

Sika Construction Chemicals, a world leader in construction chemicals and industrial adhesives based in Switzerland, has acquired ABC Kimya, one of Turkey's leading sealant manufacturers. ABC Kimya produces various adhesives used in construction and industrial manufacturing as well as acrylic, silicone and hybrid-based mastics in its production facilities located in Silivri, Istanbul. As one of the leading producers of adhesive and sealants in Turkey, ABC Kimya exports its products to 40 countries around the world.

Regarding the acquisition, Sika Turkey General Manager Bora Yıldırım said, "With this acquisition, Sika will have the opportunity to develop a much stronger market presence in the adhesive and sealing product group." He stressed that they aim to accelerate growth in this market by bringing together ABC's broad product portfolio with Sika's distribution channel and vice versa, creating a great synergy.

"We will also contribute to the export potential of our country, as Sika's current sales channel is set to benefit from ABC's product portfolio, especially in the Middle Eastern and African markets, as well as in the domestic market," Yıldırım said. Sika operates 190 factories in 98 countries across the globe and employs more than 17,000 people. Last year, the company's sales reached almost 5.5 billion euros while it posted 500.5 million euros in net profit. Sika was founded in 1910 and has been operating in Turkey for 25 years. Its production facilities are located in Istanbul.

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