Baar, Switzerland -- Sika CZ, the Czech subsidiary of Switzerland-based Sika AG, has acquired Panbex Group, a cementitious flooring specialist based in the Czech Repblic, a recent company statement said.
With a turnover of around CZK 170 million ($9 million) and market positions in Czech Republic, Poland, Romania, Serbia and Slovakia, the acquisition strengthens Sika's position in cementitious flooring in Central and Eastern Europe, the company said.
The business will be integrated into respective Sika country subsidiaries with around 80 employees expected to join the company, the statement added.
Sika AG's products include polyurethane sealants and adhesives. (RD)