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09-25-2009: Sika AG announces that its Chinese subsidiary, Sika (China) Ltd., has acquired a majority stake in Jiangsu TMS Admixture Co., Ltd., a supplier of concrete additives to the Eastern China markets.
Jiangsu TMS Admixture Co., Ltd. has approximately 120 employees and 2008 sales of RMB 95 million (approx. CHF 15 million). The company's main production facilities are located near Nanjing, in Jiangsu province. Sika is acquiring a majority stake in the company. The parties have agreed not to disclose the sales price.
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