Sika has expanded its position in the Middle East by establishing a new national subsidiary in Kuwait. The creation of this 94th subsidiary worldwide marks a further step forward in the implementation of Sika's growth strategy, which aims to expand the Group's international presence to 100 national subsidiaries by 2018.
Kuwait's construction market is set to grow at a tremendous pace, with investments of just under USD 30 billion in the focus areas of real estate and infrastructure. Key construction projects at national level include an airport extension and upgrade of the metropolitan transportation network, which alone account for a total investment of USD 13 billion. The new national subsidiary positions Sika perfectly to supply high-quality concrete admixtures and refurbishment products directly to customers in Kuwait and to benefit from the country's booming construction market. Sika products are already being used in the construction of a new university and several roadbuilding projects. The Kuwait market has been serviced from neighboring countries since 2010.
STRONG SIKA PRESENCE IN MIDDLE EAST
With national subsidiaries in 13 countries, Sika has an extensive local presence in the Middle East. In Qatar, where a subsidiary was established in 2013, Sika recently won a "mega project". In the first phase of work on the world's biggest concrete-reinforced reservoir, more than 350,000 m² of Sika Proof A® and Sika Proof P® membranes are being laid for waterproofing.
CONTACT
Dominik Slappnig
Corporate Communications and
Investor Relations
+41 58 436 68 21
slappnig.dominik@ch.sika.com
SIKA CORPORATE PROFILE
Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing and protection in the building sector and automotive industry. Sika has subsidiaries in 94 countries around the world and manufactures in over 170 factories. Its more than 17,000 employees generated annual sales of CHF 5.49 billion in 2015.
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