Sika AG

SIKA STARTS MORTAR PRODUCTION IN SENEGAL

SIKA STARTS MORTAR PRODUCTION IN SENEGAL

Sika AG / SIKA STARTS MORTAR PRODUCTION IN SENEGAL . Processed and transmitted by West Corporation. The issuer is solely responsible for the content of this announcement.

Sika is expanding production capacity in Senegal, West Africa, by opening a mortar production facility at its existing factory in Dakar. The plant will initially manufacture tile adhesives, grouts, concrete repair and waterproofing mortars and at a later stage cementitious flooring solutions.

Two years after the establishment of the new national subsidiary, and one year after opening a concrete admixtures plant, Sika is now starting to produce mortar products in Senegal. With its expansion strategy, Sika aims to further increase its market share in the booming construction market, one of the country's key economic sectors. Senegal has one of the strongest growth rates in sub-Saharan Africa. Its economy grew by 7% in the past year. Average growth of 6% is forecast for the construction market over the next few years.

Ivo Schädler, EMEA Regional Manager: "Our growth strategy in Africa has paid off, and we are achieving above-average growth rates. Over the last four years alone, we have increased sales on the African continent by more than 21% per year. In West Africa, Senegal is one of the fastest-growing countries with large investment projects in the areas of infrastructure, transport, energy, and oil. We want to position Sika in these major projects and bring the best products, systems, and services to our customers."

CONTACT
Dominik Slappnig
Corporate Communications &
Investor Relations
+41 58 436 68 21
[email protected]

SIKA CORPORATE PROFILE
Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry. Sika has subsidiaries in 101 countries around the world and manufactures in over 200 factories. Its more than 20,000 employees generated annual sales of CHF 7.09 billion in 2018.

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Media Release



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Source: Sika AG via Globenewswire