Sika Strengthens Market Position with New Plant Opening

Sika Strengthens Market Position with New Plant Opening

With great excitement, Sika has launched a brand-new plant in Quito, Ecuador. This significant milestone not only showcases Sika's commitment to the region but also enhances its proximity to various customers. The new facility is set to tap into the full market potential for mortar solutions in Ecuador, primarily focusing on interior wall applications and tile adhesives.

Previously, Sika has been operational in southern Ecuador with a mortar production facility located in the bustling economic hub of Guayaquil. The Quito region has been relying on supplies from this southern plant. However, with the establishment of the new facility in Quito, Sika aims to optimize its supply chain across the nation, which will lead to shorter transportation routes. This means the company can attend to customer needs more efficiently while also reducing their carbon footprint.

Sika is globally recognized for its innovative and high-performance solutions in the construction sector. With decades of presence in Ecuador, the company has cultivated trust among its customers across various market segments. The acquisition of Parex in 2019 significantly bolstered Sika's capabilities, leading to a remarkable strength in tile setting materials and mortars available within the Ecuadorian market.

Mike Campion, Sika's Regional Manager for the Americas, shared his thoughts on the new plant, stating, "Our new plant in Quito comes at a pivotal moment as Ecuador experiences a strong rebound in construction activity. Sika is well positioned to supply the growing markets in both the North and South of the country with high-quality, innovative solutions." This sentiment captures the current landscape of the Ecuadorian construction market, which is showing signs of an impressive recovery.

After experiencing a downturn that lasted three years, experts expect Ecuador's construction industry to flourish once again, forecasting an average annual growth rate of 4.3% through 2028. This anticipated growth can be attributed to substantial investments in mining, transportation, electricity infrastructure, and new residential construction projects.

About Sika

Sika is a leading specialty chemicals company celebrated for its innovations in bonding, sealing, damping, reinforcing, and protection across the construction and industrial sectors. The company has established a strong global presence with subsidiaries in 102 countries and operates over 400 factories. Sika is committed to developing cutting-edge technologies that help pave the way for a more environmentally friendly construction and transportation industry. Currently, Sika employs approximately 34,000 individuals who generated annual sales of CHF 11.76 billion last year.

Connect with Sika

For any inquiries, please contact:

Dominik Slappnig
Corporate Communications & Investor Relations
+41 58 436 68 21
slappnig.dominik@ch.sika.com

Frequently Asked Questions

What is the significance of the new Sika plant in Quito?

The new plant enhances Sika's market presence in Ecuador by optimizing supply chains and improving service efficiency across the country.

How does Sika contribute to the construction industry?

Sika provides innovative bonding, sealing, and protection solutions that facilitate environmentally friendly construction practices.

What growth is expected in Ecuador’s construction industry?

Experts predict a 4.3% average annual growth in the construction industry through 2028, driven by substantial investments in various sectors.

What role did the acquisition of Parex play for Sika?

The acquisition significantly strengthened Sika's product offerings, particularly in tile setting materials and mortars in the Ecuadorian market.

How can I get in touch with Sika?

You can reach out to Dominik Slappnig through email at slappnig.dominik@ch.sika.com or call +41 58 436 68 21 for any communications or inquiries.

About The Author

My name is Dylan Bailey, and I am 28 years old. I am an author and an expert on the stock market who specializes in publicly traded companies. Early fascination with the stock market inspired me to seek a finance degree and then delve deeply into the world of stocks. I have developed over the years my abilities to spot investment prospects, assess business performance, and analyze market trends.

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