Sika has agreed to the acquisition of Ronacrete Ltd., one of the leading suppliers of mortars and associated products in Hong Kong. This is in line with the global expansion of Sika and is a core component of Strategy 2018. The Ronacrete plant means that Sika has 89 factories worldwide.
Over the last few decades Ronacrete has built up a strong specification business and has established itself as a preferred partner for private and public key developers in Hong Kong.
Hong Kong is a mega city with a rising demand for refurbishment – its construction market is expected to grow by more that 5% in the next five years. This acquisition will allow Sika to 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.”
Read the article online at: https://www.worldcement.com/asia-pacific-rim/18102016/sika-acquires-ronacrete/