Baar, Switzerland -- Sika AG has acquired a majority stake in Dyflex HD Co. Ltd of Japan, which is the "market leader in liquid waterproofing in Japan with well established brands and channels," the Swiss construction chemicals group said.
Dyflex's consolidated net sales in 2009 were approximately Yen 14 000 million (about CHF165 million or $153 million) with around 350 employees.
Keisei Miura, founder and chief executive officer of Dyflex, who set up the firm in 1964, will stay with the company to help further develop the business and ensure a smooth transition, said Sika's 1 June announcement.
Sika said this acquisition enables it to "take a big step forward into the Japanese construction chemical market," and added that Dyflex's products and technologies are complementary to Sika's and will be rolled-out to other countries through Sika's global sales network.
Another benefit for Sika is that Dyflex's customer base and sales channels present significant potential for cross-selling. Also, Sika noted, the combined product range will allow it to offer complete waterproofing systems and solutions to customers.
Speciality chemicals maker Sika makes materials for sealing, bonding, damping, reinforcing and protecting load-bearing structures in construction and in industry (vehicle, building component and equipment production). Its products include high-quality concrete admixtures, speciality mortars, sealants and adhesives, damping and reinforcing materials, structural strengthening systems, industrial flooring as well as roofing and waterproofing systems.
Sika's annual sales are CHF 4200 million and it has subsidiaries in more than 70 countries worldwide and about 12 000 employees.