SIKA DRIVES FORWARD OPERATIONAL IMPLEMENTATION IN
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Approximately one year after its national subsidiary was founded in Ethiopia, Sika is opening the first concrete admixture production plant in the country. Sika is the first-ever international company to manufacture its products locally, and the move creates a base from which to build up business activities in the growth market, which has a total population of approximately 100 million.
Paul Schuler, Regional Manager EMEA: "The new factory in Ethiopia is part of the systematic implementation of our Africa strategy. We are playing a pioneering role in setting up local production, and this will bring us significant competitive advantages. Customers will benefit from local product formulations that are perfectly adapted to the raw materials and local requirements, as well as from shorter delivery times. This step creates a foundation for further growth in this promising market."
STRONG CONSTRUCTION INDUSTRY GROWTH RATES EXPECTED By establishing its factory in Addis Ababa Sika is positioning itself in a megacity. Ethiopia is the second biggest economy in sub-Saharan Africa in population terms, and the fourth biggest in terms of economic output. One of the factors benefiting the construction sector is the government's Growth and Transformation Plan. According to forecasts, construction is set to grow by approximately 11% annually in the period up to 2025 and thus more strongly than other countries in the sub-Saharan region.
CONTACT Dominik Slappnig Corporate Communications and Investor Relations +41 58 436 68 21 slappnig.dominik@ch.sika.com
SIKA CORPORATE PROFILE Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing and protection in the building sector and automotive industry. Sika has subsidiaries in 97 countries around the world and manufactures in over 170 factories. Its more than 17,000 employees generated annual sales of CHF 5.49 billion in 2015.
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