The Board of Directors of Sika AG, Baar, Switzerland, announced the formation of two new subsidiaries, Sika Technology AG and Sika Services AG. Both companies will be headquartered in Switzerland.

Sika AG will concentrate Research and Development activities in a new subsidiary company called Sika Technology AG. Sika Technology AG will manage and take full advantage of patents and licenses. Research operations will continue at the location of Sika Technology AG in Zurich, Switzerland. The goal of these measures is to refocus and concentrate long-term research projects in selected fields of activity in Switzerland. Application development and systems engineering according to local market needs will be delegated to centers of competence and local subsidiaries worldwide.

Sika Services AG will offer the central services (shared services) such as marketing, engineering, logistics and finance to the subsidiaries of the Sika Group.

The new organisational structure will increase transparency in the Sika Group. In addition, it will improve the division of tasks and responsibilities between Sika Schweiz AG, former head office of Sika in Zurich, Switzerland, and the Sika Group. Sika Schweiz AG will be able to focus on its operational activities and will be relieved from tasks performed for the Sika Group.

The affected employees of Sika Schweiz AG will be integrated into Sika Technology AG and Sika Services AG without changes to the conditions of their employment agreements.