Sika AG, based in Baar, Switzerland, introduces new measures in the area of financial management. This in regard to the earlier announced increase in transparency and to support the growth strategy.

Nearly one hundred Financial Managers from more than 60 countries met in Lucerne, Switzerland, to join a 4-day educational program for this purpose. The participants, of which more than 25 % are female, will successfully implement these new measures worldwide.

In the context of the new operational standards, an integrated reporting system will be introduced to improve transparency, the internal benchmarking and to optimise taxes. Additionally in 2003, group wide cash netting will be implemented and the management of net working capital will be enhanced.

In regard to an adapted Corporate Governance, the board of directors of the Sika Group has taken the strategic decision to establish an Internal Audit. As a consequence, an Audit Committee was founded and the position of an internal auditor was created. The Audit Committee as well as the internal auditor have already started their activities.