TAGS: Industrial Coatings
Sika has closed the transaction related to the divestment of the European industrial coatings business to The Sherwin-Williams Company, the US-based paints and coatings company. The deal was announced on August 19, 2021. The associated sales proceeds amount to EUR 200 million.
The transaction will have a positive one-time impact on the profitability of Sika in the first half-year 2022. The final effect on the financial statements will be presented in the half-year report to be published on July 22, 2022.
About Sika
Sika is a specialty chemicals company with systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry.
Sika has subsidiaries in 101 countries around the world and manufactures in over 300 factories. Its more than 27,000 employees generated annual sales of CHF 9.3 billion in 2021.
Source: Sika