Sika Acquires Flooring Business

Sika Corporation, the U.S. subsidiary of Sika AG, recently acquired the commercial and industrial polymer flooring business of ICS Garland, Inc. The transaction closed on April 25, 2008. Revenues for this business totaled approximately US$ 14 million for the fiscal year ended December 31, 2007.

With its second acquisition in North America this year, Sika has added another player into its industrial flooring business in this region. The ICS Garland polymer flooring business has a portfolio of epoxy, polyurethane, and ESD technology products.

The parties have agreed not to disclose the sales price. Approximately 45 employees are expected to join Sika as part of the transaction, including the ICS Garland manufacturing facility and offices in Cleveland, OH. Sika Corporation is based in Lyndhurst, NJ.

Prior to the acquisition, Sika already held a place in the market for construction chemicals including adhesives and sealants, concrete admixtures, and repair and strengthening products. The company notes that this transaction creates for it a comprehensive range of epoxy, polyurethane, and other key polymer flooring products and technologies.