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Sika acquires building finishing company in the USA
Sika has fully acquired HPS North America, a supplier of building finishing materials. HPS distributes “Schönox” branded products, manufactured by Sika Germany, in the US market. Fully integrating this business into Sika USA will create a strong platform for further expansion in the building finishing segment and lead to significant efficiency gains.
The acquired company has successfully developed the business over the past few years, significantly growing both sales and profitability. The products, which include self-leveling and waterproofing solutions, are sold via a well-established network of distribution partners and are mainly used in flooring applications.
Since the acquisition of Parex, The Swiss company has continuously increased its presence in the building finishing segment in the USA. By acquiring HPS, the enterprise will further expand its position in this growing market segment. Until today, Sika has held a minority participation in the company and is now acquiring the remaining stake. Fully consolidating this business under Sika ownership will provide exciting cross-selling opportunities in the flooring Industry and bring significant efficiency gains in logistics and production.
