Sika opens 99th subsidiary
Published by Rebecca Bowden,
Assistant Editor
World Cement,
Sika is continuing the expansion of its presence in South America by setting up its 99th subsidiary, in El Salvador. The company will thus be represented by its own sales and distribution organisation in the smallest Central American country. El Salvador, however, also has the highest population density and over 6 million inhabitants.
José Luis Vázquez, Regional Manager Latin America: “Sika already has a strong market position in El Salvador, as we have been supplying the construction sector out of Guatemala for many years. With this new national subsidiary we can develop the market more efficiently and grow more rapidly. Our aim is to further develop Sika’s leading position, particularly in the Sealing & Bonding target market."
Owing to high demand for infrastructure, the outlook for the construction industry in El Salvador is promising. According to forecasts, growth should amount to 5% in 2017. Growth drivers include infrastructure investments with a total volume of US$3 billion. Investments will focus on seaport installations, energy infrastructure and tourism. In the current year, public investments of more than US$400 million will be made in tourism projects alone.
Read the article online at: https://www.worldcement.com/the-americas/12092017/sika-opens-99th-subsidiary/
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