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Sika has made a binding offer of CHF 320 million (258.5 million euros) to acquire the building adhesives business of the Dutch company AkzoNobel. With annual sales of CHF 228 million, AkzoNobel Building Adhesives is a top-three player in its core European markets and employs 550 people. With this acquisition, Sika will increase its product offering for interior finishing in the flooring, sealing and bonding, and refurbishment markets. The transaction is expected to be completed in the fourth quarter of 2013.
The Building Adhesives Business of AkzoNobel has a strong focus on the premium segment through its leading brands Schönox, Cégécol, Casco, Synteko and EriKeeper. With two production sites in Germany and France and a pan-European distribution network with nine distribution centers, it supplies its customers with successful and highly innovative products. Sika AG, located in Baar, Switzerland, is a globally active specialty chemicals company. Sika supplies the building and construction industry as well as manufacturing industries (automotive, bus, truck, rail, solar and wind power plants, façades).