Sika to strengthen its Sealing & Bonding business in Eastern Europe with the buy of Belorussian polyurethane foams producer

Sika buys Belineco

(PRESS RELEASE) BAAR, 13-Mar-2019 — /EuropaWire/ — Sika is expanding its know-how in the production and development of polyurethane foams. The company has just acquired a manufacturer of polyurethane foam systems based in Belarus.

The acquired company is called Belineco (ООО «БелИНЭКО») and is based near Brest in Belarus. The company has grown steadily over the past years having generated CHF 23 million sales per year while achieving a solid market position in both Belarus and Russia.

Sika and Belineco will both together focus on gaining better access to the trade distribution channels in Eastern Europe. The employees of the Belineco will be joining Sika as part of the deal.

Financial details on the deal have not been disclosed and the transaction is subject to approval by anti-trust authorities.

Belineco owns a state-of-the-art manufacturing facility and produces polyurethane foams sold via trade distribution channels in Eastern European markets.

Belineco’s geographical footprint focused on Eastern Europe is perfectly complementing Sika’s recent acquisition of the Swiss-based Polypag polyurethane foam business. Sika will expand its product offering for the trade distribution channels and improve store penetration with larger distributors. The deal will open up cross-selling opportunities for the combined portfolio through these channels as well as for Belineco foams in Sika’s roofing and facade systems.

Ivo Schädler, Regional Manager EMEA:

“The acquisition of Belineco will strengthen our Sealing & Bonding business in Eastern Europe and open up exciting, new cross-selling opportunities. The improved access to trade distribution channels will increase our market penetration in this region and drive the continued growth of both companies. We are happy to welcome Belineco’s employees into the Sika team and are excited about expanding our business together.”

Sika is active in the specialty chemicals with particularly strong positions in the development and production of systems and products for bonding, sealing, damping, reinforcing and protecting in the building sector and motor vehicle industry. The company has business in 101 countries around the world relying on more than 20,000 employees. In 2018, Sika reported annual sales of CHF 7.09 billion.

SOURCE: Sika