Baar, Switzerland - Sika AG, whose products include polyurethane sealants and adhesives, has reported a 12.3 percent decline in sales to CHF 1982.9 million ($1822 million) in its 2009 half-year results, compared to the same period last year.
Operating profit was also down, falling 31.1 percent to CHF 214 million compared to the first six months of 2008, the recent company statement said. In terms of region, Latin America and IMEA (India, Middle East, Africa) showed solid growth figures of +9.6 percent and +9.2 percent respectively, with China also showing solid growth. Sales in Northern Europe (-11.6 percent), Southern Europe (-6.4 percent), North America (-12 percent) and Asia Pacific (-2.6 percent) were all down, due to the global economic crisis and currency effects, the company said.
Sika has a range of polyurethane activities, including a PU sealants unit in Switzerland, a polymer flooring business in the US, the recently acquired UK-based Incorez, which produces resins and a PU adhesive plant in Suzhou, China. (RD)