Sika AG Acquires Italian Adhesives Firm

Rome, Italy, July 19, 2011 -- Specialty chemicals company Sika AG said it has acquired Technokolla, a leader in tile adhesive systems, for approximately $45.1 million.

Sika expects the acquisition to expand its market position in Italy.

Based in the northern Italian town of Sassuolo, Technokolla is a subsidiary of the privately owned Fincea Group, of which Iris Ceramica, one of the leading ceramic tile manufacturers in Europe, is also a member.

The new partnership will enable Sika to expand its market position by adding a new distribution channel and supply the construction industry in the region with an even wider range of products and technologies.