Swiss-based chemical company Sika AG has announced its intention to acquire Belineco LLC, a manufacturer of polyurethane foam systems in Belarus.
The acquisition allows Sika to expand it s know-how in the production and development of polyurethane foams and gives both firms better access to East European trade distribution channels. Belineco generates annual sales of around €20-million. The deal is still subject to approval by anti-trust authorities.
Image: BelINEKO LLC
Belineco is based in the city of Brest, a free-economic zone in the country's far west, on the border with Poland and an important gateway between the EU and its eastern neighbours. The company has gathered strong momentum over the past years and built up a solid market position both in Belarus and in Russia. Its manufacturing facility produces polyurethane foams and a range of other products that are sold via trade distribution channels in Eastern Europe.
The acquisition complements Sika's acquistion last August of Swiss polyurethane foam manufacturer Polypag. It will also enhance Sika's product offering and improve store penetration. as well as opening up cross-selling opportunities for the combined portfolio, as well as for Belineco foams in Sika's roofing and facade systems.
Ivo Schädler, Regional Manager EMEA: "The acquisition of Belineco will strengthen our Sealing & Bonding business in Eastern Europe and open up exciting, new cross-selling opportunities. The improved access to trade distribution channels will increase our market penetration in this region and drive the continued growth of both companies. We are happy to welcome Belineco's employees into the Sika team and are excited about expanding our business together."
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