Sika: Acquisition of Parex completed
Sika has completed the acquisition of Parex on 23 May 2019. The deal was announced on 8 January 2019. With annual sales of CHF 1.2 billion, Parex is a mortar manufacturer With this acquisition, Sika said it will expand its product portfolio for the building finishing market, further strengthening its position in construction chemicals, and reaching sales in excess of CHF 8 billion for 2019.
Parex’ product offering includes facade mortars, tile adhesives, and waterproofing mortars. With its expertise in mortar solutions for renovation and new builds, Parex participates in all phases of the construction life cycle. Parex has a particularly strong presence in distribution channels, especially in China, where Parex has built up a network of over 90,000 points of sale. The company is locally present in 23 countries, with key positions in 8 core markets, and operates 74 plants around the world.