Sika AG in Baar, Switzerland, has bought the New Zealand subsidiary of the Fosroc Group.

Fosroc New Zealand produces and sells adhesives and sealants, waterproofing as well as façade protective materials to the construction industry. Most of the products are sold through a broad-based distribution network.

As a result of the acquisition Sika New Zealand - already a leader in the country's admixture business - will strengthen its position in the adhesives and sealants sector.

Sika will also use Fosroc’s existing customer and sales network to market other Sika products.

With approximately 70 employees Fosroc New Zealand achieves sales of about CHF 20 mil. annually. The cost of the  acquisition totaled approximately CHF 16. mil.