Sika’s acquisition of Modern Waterproofing Group garnered the most reader interest last week (Sika Acquires Egypt-Based Modern Waterproofing Group): “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.
“The acquisition will extend and complete Sika Egypt’s offering of roofing, waterproofing, and building envelope systems. Sika expects that the production site will strengthen its local supply chain and technical know-how, as well as offer the possibility to efficiently serve other African countries.”
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Top 5 News that Sticks for June 14-20
- Sika Acquires Egypt-Based Modern Waterproofing Group
#3 last week
- Berry Global Collaborates on Advanced Recycling Technology Project with Mondelēz International
- Annual Growth Projected at 4% for Industrial Coatings Market Beginning Next Year
- Huntsman Publishes 2019 Sustainability Report
- W. R. Meadows’ Snow Elected Vice President of Construction Specifications Canada
This weekly roundup highlights the adhesives, sealants, and coatings-related news stories that garnered the most attention during the previous week on our website, as well as our eNewsletters and social media platforms.