Sika AG, Switzerland, is taking over the remaining share of 49 % of Tivoli Klebstoffe GmbH, Germany. Sika AG already acquired a 51 % share two years ago.
Annual compensation payments of EURO 2.5 m from Sika to the former partner will no longer be due as a result of the acquisition of the remaining share package. The price of the shares of EURO 44 m had already been agreed on in the year 2000.
With a turnover of approx. CHF 62 m the adhesives of the well-known Tivoli brand names contribute to Sika's strong growth in the automotive market.
The product portfolio of Tivoli is made up of reactive hotmelts, pressure sensitive adhesives and
dispersion adhesives. Tivoli supplies mainly manufacturers of automobiles, trucks, busses and their suppliers for structural bonding and laminating application.
Company Profile Sika AG
Sika AG, based in Baar, Switzerland, is a leading global supplier of specialty chemicals. Sika offers process materials for sealing, bonding, damping, reinforcing and protecting of load-bearing structures in construction (buildings and infrastructure) and in industry (transportation, automotive, marine and appliances & equipment). Sika.s product line includes concrete admixtures, speciality mortars, sealants, adhesives, speciality acoustic and reinforcing materials, structural strengthening systems, industrial flooring and membranes.
Locally based operations in more than 60 countries with over 8.000 employees connect customers directly with Sika and guarantee for the success of all our partners. With this concept Sika achieves an annual sales of approximately CHF 2.1 billion.
Visit the Sika website at www.sika.com.
==>> This Media Release can be downloaded on the following link below as PDF.
