Baar, Switzerland - Sika AG has bought the commercial and industrial polymer flooring business of Valspar Corp., in a transaction that closed 9 Jan 2008. No financial details were revealed.
Sales of the business were about $ 17 million for the fiscal year ended October 26, 2007.
According to Sika, the Valspar polymer flooring business has a strong portfolio of epoxy and polyurethane products, making it "an excellent fit for Sika's focused growth strategy for North America." In this region, Sika said, it has historically had a weak position in the flooring business.
Sika is already a market leader in the US in construction chemicals including adhesives and sealants, concrete admixtures, repair and strengthening products. The Swiss group expects that adding the Valspar business will strengthen its North American position in the polymer flooring market.
Nearly 30 employees are expected to join Sika as part of the transaction.
Valspar's polymer flooring business has an well-known range of products, along with applicators and distributors, and will enhance and complement Sika's position in this key market, a company statement said.
For Sika, the deal creates "the most comprehensive range of epoxy, polyurethane, and other key polymer flooring products and technologies in the industry," the company added.