Sika acquires waterproofing membranes specialist Duproof

(AWP Alliance News) - Sika AG on Monday announced then acquisition of Dubai-based manufacturer of waterproofing membranes, Duproof LLC.

The Baar, Switzerland-based specialty chemicals company did not disclose the financial terms of its acquisition of Duproof, which manufactures a broad range of bituminous membrane solutions used in construction projects across the UAE.

"The added new customer relationships and product solutions perfectly complement our existing offering. Leveraging Duproof's capabilities through our strong sales organisation will unlock significant cross-selling opportunities and increase our share of wallet in major projects," said Christoph Ganz, Sika regional manager, Europe, Middle East and Africa.

Sika said the acquisition of a new site in the UAE also strengthens its regional supply chain and complements its existing manufacturing footprint in Saudi Arabia and Egypt.

Shares in Sika closed down 2.3% at CHF180.20 each in Zurich on Friday.

By Elijah Dale, Alliance News senior reporter Asia-Pacific

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