By David Reed, UT EditorBaar, Switzerland -Sika AG, the Swiss adhesives and sealants specialist, has bought the New Zealand subsidiary of the Fosroc Group for about SwFr 16 million ($13 million).Fosroc New Zealand has 70 employees and produces and sells adhesives and sealants, waterproofing as well as façade protective materials, generating sales of about SwFr 20 million. Most of the products are sold to the construction industry through a broad-based distribution network, a statement from Sika indicated.As a result of the acquisition Sika New Zealand – already a leader in the country’s admixture business – will strengthen its position in the adhesives and sealants sector. Sika will also use Fosroc’s existing customer and sales network to market other products from the Sika range, the statement added.”
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