Sika: Acquisition of full-range waterproofing expert in China
On 24 August 2021, Sika announced that it is acquiring Shenzhen Landun Holding Co., Ltd., a manufacturer of waterproofing systems in China. Financial details were not disclosed. Landun operates two modern production facilities where it manufactures a full range of membranes and coatings for various waterproofing applications, mainly supplying infrastructure and commercial projects.
The acquisition provides a platform for Sika to further grow and strengthen its position in the fast-growing Chinese waterproofing market. The product portfolios of the two companies are highly complementary and offer large cross-selling potential through their respective channels. With the two acquired manufacturing facilites, Sika will be able to strengthen its local supply chain and bring its products and services closer to the market.
Mike Campion, Regional Manager Asia/Pacific at Sika, said: “With the acquisition of Landun we follow our growth strategy by complementing our product portfolio and expanding our manufacturing footprint. This brings us closer to our customers and enables us to provide them with first-class service and solutions. The extended product portfolio will strengthen our position in the Chinese waterproofing market and support market share gains. We warmly welcome the more than 200 Landun employees to the Sika family and look forward to successfully developing this growing business together.”