Sika AG has acquired the remaining shares of Addiment Italia from JV partner Buzzi Unicem. Addiment Italia is active in the field of concrete admixtures and cement grinding aids. The transaction will help to increase Sika’s market presence in Italy.
The JV was initially established in 2003 to produce construction chemicals to enhance the performance of cement and concrete. Last year, Addiment Italia generated sales of €14 million.
Pietro Buzzi, co-CEO of Buzzi Unicem, said: “ The cooperation between Buzzi Unicem and Sika as joint venture partners of Addiment Italia has continued effectively for more than twelve years, with good understanding of the common goals and management decisions that led to great results for both employees and shareholders. We hope that our future business relationship will continue with the same long lasting success.”
Adapted from press release by Katherine Guenioui
Read the article online at: https://www.worldcement.com/europe-cis/06072015/sika-acquires-remaining-shares-in-addiment-italia-104/