Sika Acquires Parex

Sika Building Chemicals has completed the acquisition of Parex, which operates with annual sales capacity of CHF 1.2 billion and is known for its extensive distributor network. Sika, which targets global sales exceeding CHF 8 billion by year-end, also aims to position Turkey as the research and development hub and strategic center for the Middle East region through the combined synergy of the two companies, and to increase sales to neighbouring countries. Operating for 109 years in building chemicals, specialty adhesives used in industrial manufacturing, and sealant products, Swiss-based Sika manufactures in 101 countries worldwide and in more than 300 factories. This acquisition expanded its product portfolio for the construction complementary market. Sika appears to be continuing its global growth trend in Turkey as well. In 2017, Sika had also incorporated ABC Kimya ve Dış Ticaret A.Ş., a manufacturer of mastics and adhesives, into its operations. Sika Building Chemicals, with annual production capacity of 195,000 tonnes and a 26 percent growth rate according to 2018 results, is among the companies that achieved the largest and most profitable growth in the EMEA region in Turkey. [gallery columns="2" size="medium" ids="eyJ1cmwiOiJodHRwczpcL1wvd3d3LnR1cmtjaGVtLm5ldFwvd3AtY29udGVudFwvdXBsb2Fkc1wvMjAxOVwvMDlcL3Npa2FfMi5qcGciLCJ0aXRsZSI6IlNpa2EiLCJjYXB0aW9uIjoiIiwiYWx0IjoiU2lrYSIsImRlc2NyaXB0aW9uIjoiIn0=,eyJ1cmwiOiJodHRwczpcL1wvd3d3LnR1cmtjaGVtLm5ldFwvd3AtY29udGVudFwvdXBsb2Fkc1wvMjAxOVwvMDlcL3Npa2FfLmpwZyIsInRpdGxlIjoic2lrYV8iLCJjYXB0aW9uIjoiIiwiYWx0IjoiIiwiZGVzY3JpcHRpb24iOiIifQ=="]

Sika's signature on Turkey's strategically important projects

Sika Turkey has been operating in the country for 29 years. With two production facilities and 2,000 active sales points across all regions, Sika Turkey exports to 5 countries in the region. The company has 7 regional offices in Turkey and more than 250 employees. Highlighting Turkey's strategic importance for Sika, Turgay Özkun, General Director of Sika Building Chemicals, stated, "As Sika Turkey, thanks to our extensive product range, we can provide solutions at every stage of construction and continue our growth in Turkey as we do worldwide. In recent years, we have been a solution partner for strategically important mega infrastructure projects such as the Third Bosphorus Bridge, Osmangazi Bridge, Yusufeli Dam, and the Third Airport. Along with these, we also provide technical solutions to major industrial facilities such as STAR Refinery and Tüpraş. With the acquisition of Parex, we will accelerate and continue our growth in Turkey further." Mehmet Aksun, General Director of ParexGroup Turkey, made a statement regarding Parex's acquisition with annual sales of CHF 1.2 billion. In his remarks, Aksun said, "With this acquisition, two strong companies have come together. The acquisition of Parex, a global leader in technical mortars and water insulation systems, by Sika is a development that will take two complementary brands in terms of product portfolio and strategy much further. Parex, known for its extensive research and development expertise and technical superiority, operates in 23 countries and runs 74 factories worldwide. The most important aspect of this acquisition is that we will now be able to produce more solutions for our customers with a larger and more efficient organization. We plan to increase both sector quality at home and export figures with a broader product range and applicator distributor portfolio."

Uzbekistan market as priority export target

With two production facilities in Tuzla and Mersin, Sika aims to achieve growth in Turkey at the same pace as globally. Sika, which positions Turkey as the research and development center of the Middle East region, operates its Tuzla production facility with annual capacity of 650,000 tonnes, its Tarsus factory with annual capacity of 200,000 tonnes, and ABC Kimya factory with annual production capacity of 120,000,000 units. With this acquisition, growing Sika Turkey will also accelerate its export efforts with its production. Sika Turkey, which exports to Cyprus, Georgia, Uzbekistan, Kyrgyzstan, Turkmenistan and Tajikistan in the near region, appears to have growth in the Uzbekistan market as a priority among its upcoming targets.