Baar, Switzerland – Sika, which makes a range of polyurethane systems for construction applications, is buying Belarus-based foam systems company Belineco.
Sika moves further into the East with Belarus purchase
Belineco, formed in 2008, makes a range of PU spray and rigid foam products, as well as aerosol packaging for the construction sector. The free economic zone of Brest, south-west Belarus, is home to Belineco's production.
With annual turnover of €20.3m, Belineco has grown strongly in the past two years. The company claims a solid market presence in Belarus and Russia through retail distribution channels. It also has growing markets in Ukraine and Kazakhstan.
In addition, Belineco’s products include mounting, sealant and adhesive foams. Financial details of the deal, which is waiting for regulatory approval, were not disclosed.
'The acquisition will strengthen our sealing and bonding business in eastern Europe. The improved access to trade distribution channels will increase our market penetration in this region and drive continued growth of both companies,' said Ivo Schadler, Sika’s EMEA regional manager.