Sika purchases in Russia
Sika takes over the Russian manufacturer of mortar products Kreps LLC. The new addition is intended to improve the position of the Zug-based building materials group in Russia. With the takeover of Kreps, Sika will have its own production sites in Saint Petersburg and Yekaterinburg.
Sika is buying up the Russian manufacturer of mortar products Kreps LLC, informs the Zug-based building materials group in a press release . The company, with annual sales of around 15 million francs, specializes in the production of tile adhesives, plasters and floor leveling compounds. The notification does not provide any information about the purchase price.
The new addition is intended to strengthen Sika's position in the region. "Kreps offers a broad product portfolio and an expanded geographic presence for mortar in the Russian Federation," Ivo Schädler, Regional Manager EMEA at Sika, is quoted in the press release. "Together with the improved access to the sales channel, we get a platform to further expand and strengthen our position in this market." The new acquisition has production sites in Saint Petersburg and Yekaterinburg, both regions in which Sika was previously not represented with its own locations.
With the takeover, a training center operated by Kreps and “well-equipped” production laboratories will also be owned by Sika, the press release explains. According to her, the transaction has yet to be approved by the local antitrust authorities.
