Sika Korea has agreed to acquire YEAN-IL INDUSTRIAL Co. Ltd. waterproofing business. YEAN-IL holds a leading position in the Korean tunnel waterproofing market with annual sales of approximately CHF 10 million.
LEADERSHIP IN TUNNEL WATERPROOFING
Sika AG has through its Korean subsidiary, Sika Korea Ltd., agreed to acquire 100% of YEAN-IL’s waterproofing business. YEAN-IL INDUSTRIAL Co. Ltd. is a market leader in tunnel waterproofing membranes in South Korea with a well-established brand and long project history.
FUTURE NEEDS TRADITION
YEAN-IL is located approx. 100 km south of Seoul and was established in 1973 by Mr. Myung Ryul Kim. Both the founder and his son (and current CEO) will stay with the business focusing on its integration and further development.
DEDICATED TO LOCAL MARKET REQUIREMENTS
The acquisition of YEAN-IL’s waterproofing business will enable Sika to expand its market position in the Korean infrastructure sector and to offer a wide array of combined product solutions and technologies tailored to the requirements of the local market.