Sika invests in Cidra Concrete Systems
Zug-based Sika AG is expanding its collaboration with the North American Cidra Concrete Systems Inc. A partnership with the market leader in digital monitoring systems for concrete mixing vehicles has existed since 2019. Now Sika is also providing growth capital.
Notice: Undefined variable: excludeTagsCountForSimpleParser in /home/immoinve/public_html/immoinvest.cyon.site/dev/wp-content/plugins/TooltipProPlus/glossaryFree.php on line 1771
Sika is expanding its collaboration with Cidra Concrete Systems. According to a press release, the Zug-based construction chemicals company has signed an agreement to finance growth with equity capital. This agreement complements the global partnership that has existed since the beginning of 2019 with the North American expert for monitoring and information systems in concrete mixing vehicles. It was closed for the introduction of this data service in the USA and Canada.
Cidra Concrete Systems, headquartered in Eden Prairie, Minnesota, manufactures high-precision on-board systems that measure concrete quality during transport from the concrete plant to the construction site. Concrete manufacturers can use a cloud-based data portal to call up information on concrete quality such as workability or air volume for every vehicle in their fleet in real time. Now this partnership between the two companies is to be extended to other countries. "We are pleased to be able to offer this offer worldwide thanks to Sika's position as market leader," said Cidra boss Scott Anderson.
"With this IoT-based technology we can provide our customers in the concrete industry with new digital solutions", Phillippe Jost, Head Construction Sika, is quoted in the press release. “Optimizing the mix design of concrete” enables Sika customers “to improve the performance of their concrete and their profitability by reducing the number of rejected truck loads”.
