One year after signing
On January 8, 2019, exactly one year ago, we announced the signing of the Parex acquisition.
Since then, we have been pressing ahead with the integration of Parex. Fully integrated management structures are already established in 20 of the 23 countries in which Parex is present. Joint business and procurement activities ensure that the synergy potential is fully exploited and the forecast synergies of CHF 80-100 million will be in the upper bandwidth range. Through cross-selling alone, we have identified CHF 230 million in sales with over 100 projects. Thanks to Parex, Sika has access to a billion-dollar distribution market in China. Sika solutions are currently sold in more than 2,000 Davco stores using a successful shop-in-shop concept.
We are delighted to see all the integration moves across the world. In the seven previous Parex integration newsletters, we shared many great examples which highlight the outstanding effort made by all countries to ensure that expertise, knowledge, competencies and synergies are fully optimized. Congratulations to the countries for the excellent progress made to date, and let's maintain the momentum throughout 2020!
"It is a real pleasure to work with all the teams across the world for the integration of Parex. The similar cultures, the common goals and the openness from both sides to learn from each other is the foundation of this successful project. It is inspiring to see all the progress that has been made in this first year, and we are looking forward to the year to come." Philippe Jost, Head Construction
Synergies by Lever
Development in Building Finishing 2011 to 2019
Fast Adoption of Sika's Brand Identity
Sika has pursued a fast integration of Parex. This is reflected in Sika's strong visual presence at various touchpoints.