Baar, Switzerland -- Sika AG's Korean subsidiary, Sika Korea Ltd, has agreed to buy 100 percent of Yean-Il's waterproofing business. Yean-Il Industrial Co. Ltd is a market leader in tunnel waterproofing membranes in South Korea, with a well-established brand and long project history, according to Baar, Switzerland-based Sika.
Yean-Il, based about 100 km south of Seoul, was set up in 1973 by Myung Ryul Kim. Sika said both the founder and his son, who is the current ceo, will stay with the business to focus on its integration into Sika, and further development.
The acquisition of Yean-Il's waterproofing business will enable Sika to expand its market position in the Korean infrastructure sector and to offer a wide array of combined product solutions and technologies tailored to the requirements of the local market.