Sika AG acquired the remaining shares of the Italian based Addiment Italia from its joint venture partner Buzzi Unicem. The company is active in the production and sale of concrete admixtures and cement grinding aids. The transaction will strengthen Sika’s production set up in Italy and increase its market presence. Addiment Italia generated sales of EUR 14 million in 2014.
Addiment Italia has a history of over 25 years of experience in the construction market offering a broad range of concrete admixtures and cement grinding aids. In 2003 Buzzi Unicem and Sika AG formed a joint venture in order to produce an innovative range of construction chemicals that enhance the quality and performance of concrete and cement.
Pietro Buzzi, co-CEO of Buzzi Unicem: “ The cooperation between Buzzi Unicem and Sika as joint venture partners of Addiment Italia has continued effectively for more than twelve years, with good understanding of the common goals and management decisions that led to great results for both employees and shareholders. We hope that our future business relationship will continue with the same long lasting success.”
Paul Schuler, Head of region EMEA: ”The acquisition will allow us to further build upon the successful partnership between Buzzi Unicem and Sika in the admixture business worldwide and strengthen the operational footprint in Italy. We welcome the new employees on board and look forward to developing the business together.”