Sika Acquires Egypt-Based Modern Waterproofing Group
The acquisition reportedly supplements and rounds off the product portfolio of Sika Egypt and offers new opportunities for growth in the Egyptian construction market.
Sika recently announced that it has acquired Modern Waterproofing Group, a manufacturer of roofing and waterproofing systems in Egypt. The acquisition reportedly supplements and rounds off the product portfolio of Sika Egypt and offers new opportunities for growth in the Egyptian construction market. The acquired business generates annual sales of CHF 26 million (approximately $27 million).
Modern Waterproofing is based in Cairo with a production facility in Badr City. It manufactures solutions for the waterproofing and roofing markets, focusing on a range of modified bitumen membranes. As complementary products, the company also offers liquid coatings and insulation boards.