Sika acquires Addiment Italia from its joint venture partner Buzzi Unicem

Sika acquires Addiment Italia from its joint venture partner Buzzi Unicem

8:08 AM, 1st July 2015
Sika acquires Addiment Italia from its joint venture partner Buzzi Unicem

BAAR, SWITZERLAND: Sika AG said it has acquired the remaining shares of the Italy-based firm Addiment Italia from its joint venture partner Buzzi Unicem. The company is active in the production and sale of concrete admixtures and cement grinding aids. The transaction will strengthen Sika’s production set up in Italy and increase its market presence. Addiment Italia generated sales of €14 million in 2014, Sika said.

Addiment Italia has 25 years experience in the construction market offering a broad range of concrete admixtures and cement grinding aids. In 2003 Buzzi Unicem and Sika AG formed a joint venture in order to produce an innovative range of construction chemicals that enhance the quality and performance of concrete and cement.

“The cooperation as joint venture partners of Addiment Italia has continued effectively for more than twelve years, with good understanding of 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,” said Pietro Buzzi, co-CEO, Buzzi Unicem.

“The acquisition will allow us to further build upon the successful partnership between Buzzi Unicem and Sika in the admixture business worldwide and strengthen the operational footprint in Italy. We welcome the new employees on board and look forward to developing the business together,” said Paul Schuler, head, region EMEA.

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Arsenal Capital Partners to buy polymer chemicals maker Peach State Labs

NEW YORK, US: Private equity firm Arsenal Capital Partners said it will acquire Peach State Labs Inc, a leading provider of specialty polymers and che ...

Read more
Umicore and Solvay sell SolviCore joint venture to Toray

BRUSSELS, BELGIUM: Umicore NV and Solvay SA said that they have sold their respective 50 percent stakes in joint venture SolviCore to Japanese chemica ...

Read more
BASF opens online store on Alibaba in China

SHANGHAI, CHINA: BASF said it is making its solutions more accessible to small and medium-sized enterprises (SMEs) with its first online store on Alib ...

Read more
CB&I bags Mexichem-Occidental JV ethylene storage facility contract

THE WOODLANDS, TEXAS: Engineering firm Chicago Bridge & Iron Company (CB&I) said it has been awarded a contract valued at approximately $115 m ...

Read more
PPG completes $5 million-coatings plant expansion in Germany

WUPPERTAL, GERMANY: PPG Industries Inc said it has completed its $5 million-coatings manufacturing facility expansion in Wuppertal, Germany. The proje ...

Read more
Evonik now a pure specialty chemicals co; divests all stake in real estate firm

ESSEN, GERMANY: Evonik Industries AG said it has divested its remaining 10.3 percent stake in the residential real estate company Vivawest GmbH to RAG ...

Read more