Latest news for Sika (OTC:SKFOF) Stock

Established in 1910, Sika produces specialty chemicals primarily used by the construction sector (85% of sales). Its products are mainly used for bonding, sealing, reinforcing, and protecting in the construction and automotive industries. Approximately 70% of its products have a positive impact on sustainability for customers. Sika has a global manufacturing footprint of more than 400 factories spread across over 100 countries.

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Sika

Sika (OTC: <a class="ticker" href="/stock/skfof#OTC">SKFOF</a>) has agreed to acquire Construction Technologies Australia Pty Ltd (CTA), one of the leading &nbsp;suppliers of tile adhesives and associated mortar products in Australia. CTA generated sales of CHF 22 million in 2014 and has 51 employees. The CTA plants bring Sika's mortar footprint to 79 factories worldwide.  Over the past couple of years CTA has experienced dynamic growth and has established itself as a key supplier to pro dealers with a wide product range comprising tile adhesives and associated mortar solutions. By acquiring CTA, Sika will extend its manufacturing footprint and considerably leverage its core technology powders/mortars to become a leading supplier in Australia of surface preparation, adhesive and waterproofing products for tiling applications. Furthermore, the CTA range of products will give Sika the opportunity to increase its business in new and existing distribution channels and will provide excellent cross selling opportunities. Distribution of CTA's products in New Zealand will transfer to Sika (NZ) Ltd. Managing Director Troy Hogan, and other key members of the CTA team, will stay on with Sika

    <a href="http://www.benzinga.com/pressreleases/15/03/tr5361824/sika-acquires-construction-technologies-australia">See full press release</a>

Press Releases

Sika Acquires Construction Technologies Australia

<b>Sika AG</b> (OTC: <a class="ticker" href="/stock/skfof#OTC">SKFOF</a>) reported a 28% gain in its profit for the 12 months to December 31.

Sika's annual net profit climbed to 441.2 million Swiss francs ($463.5 million), versus a year-ago profit of 344.7 million francs. Analysts were expecting a profit of 414 million francs.

Its sales surged 8.3% to 5.57 billion francs, compared to 5.14 billion francs.

EBIT climbed 21% to 633.2 million Swiss francs.

The company's board proposed a rise in its dividend by 26% to 72 francs per bearer share from 57.00 Swiss francs and by 26% to 12 francs per registered share from 9.50 Swiss francs.

CEO Jan Jenisch said, "Our record year in 2014 is the result of our strategic continuity and the expertise and commitment of our 16,895 employees. Their energy, ideas and active embodiment of the Sika Spirit have taken Sika to the next level of performance."


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