Sika AG announces that its Czech subsidiary, Sika CZ s.r.o., has acquired the business of the Czech Panbex Group. The Panbex business mainly consists of cementitious flooring systems, with leading market positions in the Czech Republic, Poland, Romania, Serbia and Slovakia. The Panbex Group turnover in 2009 amounted to approximately CZK 170 million (almost CHF 10 million).
With this acquisition the Sika Group significantly strengthens its market position in the field of cementitious flooring in Central and Eastern Europe (CEE). Thanks to the acquired production location in Brno, Czech Republic, Sika companies in CEE can achieve important logistical synergies. The business will be integrated into the respective Sika country organisations. In total about 80 employees are expected to join Sika.