08/01/2020

One year after signing

Sika Group Management CEO Paul Schuler

Dear Friends

On January 8, 2019, exactly one year ago, we announced the signing of the Parex acquisition.

Since then, we have been pressing ahead with the integration of Parex. Fully integrated management structures are already established in 20 of the 23 countries in which Parex is present. Joint business and procurement activities ensure that the synergy potential is fully exploited and the forecast synergies of CHF 80-100 million will be in the upper bandwidth range. Through cross-selling alone, we have identified CHF 230 million in sales with over 100 projects. Thanks to Parex, Sika has access to a billion-dollar distribution market in China. Sika solutions are currently sold in more than 2,000 Davco stores using a successful shop-in-shop concept.

We are delighted to see all the integration moves across the world. In the seven previous Parex integration newsletters, we shared many great examples which highlight the outstanding effort made by all countries to ensure that expertise, knowledge, competencies and synergies are fully optimized. Congratulations to the countries for the excellent progress made to date, and let's maintain the momentum throughout 2020!
 

Paul Schuler
CEO

2019

CHF 100 million
of expected synergies
23%
additional employees within the Sika workforce
CHF 1.3 billion
Parex sales
2,100+
exclusive Davco shops selling Sika products in China
23
countries to integrate into local & regional structures

Goals 2020

15
companies to be legally merged
9 of 38
Parex brands to be integrated fast into Sika
CHF 30+ million
additional EBIT
100+
initiatives to execute on spend better
Head Construction Philippe Jost
"It is a real pleasure to work with all the teams across the world for the integration of Parex. The similar cultures, the common goals and the openness from both sides to learn from each other is the foundation of this successful project. It is inspiring to see all the progress that has been made in this first year, and we are looking forward to the year to come." Philippe Jost, Head Construction

Synergies by Lever

Synergies by lever of Parex integration

Development in Building Finishing 2011 to 2019

Development in building finishing 2011 to 2019

Fast Adoption of Sika's Brand Identity

Sika has pursued a fast integration of Parex. This is reflected in Sika's strong visual presence at various touchpoints.

Outside view of Sika building
Image: Parex Headquarters, Shanghai
Sika team Qatar
Image: Sika and Parex Qatar teams together
Sika store in China
Image: Sika Yellow Shop, China
Sika Davco team in China with Philippe Jost
Image: Opening celebrations of first shop-in-shop unit in a Davco store in China
Outside view of Sika Davco plant in Shanghai
Image: Davco plant, Shanghai
Parex employees in Sika clothes
Image: Parex employees wearing Sika branded shirts
Sika Davco showroom in China
Image: Branding showroom at the Parex Headquarters, Shanghai
Sika branded bus in China
Image: Opening of the third Sika Yellow Shop in Guangzhou, China
Outside view of Sika Davco plant in Guangzhou
Image: Davco plant in Guangzhou, China
First shop-in-shop unit in a Davco store in China
Image: First shop-in-shop unit in a Davco store in China
Sika Davco branded building in Singapore
Image: Sika Davco branded building in Singapore