MOSCOW (MRC) -- Three years after the takeover of Axson Technologies by the Swiss Sika AG and the subsequent merging with Sika Tooling & Composites under the name SikaAxson, the business unit has been renamed in Sika Advanced Resins to complete its further integration into the Sika Group, according to GV.
The name Sika Advanced Resins is said to reflect the desire to highlight the synergies provided by the Sika Group, a provider of speciality chemicals for the construction and industrial sectors. "This new identity strengthens Sika Advanced Resins' positioning in relation to its competitors, as it gives visibility to the activities of the entire group and allows us to better position ourselves in our markets. Today, the BU is the number one tooling company in Europe and is aiming to become the world leader in the formulation of high-performance epoxy and polyurethane resins for tooling, composites and dielectrics," said Morten Muschak, Head of Sika Advanced Resins.
Sika Advanced Resins remains focused on its core businesses: tooling, composites and encapsulation (electrical/electronic), offering customised solutions to its customers worldwide. Its know-how has applications in the aeronautics, automotive, nautical and rail sectors as well as its subcontractors in foundry, modelling and rapid prototyping. To innovate and develop sustained growth in these sectors, the business unit invests significantly in research and development every year. Its strength lies in its six R+D centres located in France, Germany, China, the USA, Mexico and Japan. Sika Advanced Resins generates an annual turnover of EUR 130 million with 450 employees.
As MRC wrote before, in November 2018, Sika acquired the global Concrete Fibers business from Propex Holding, LLC, which includes a US plant manufacturing synthetic fibers for use in concrete reinforcement, sales operations in Sika’s three geographical regions, and a strong brand, said the producer. The acquired business is a perfect addition to Sika’s concrete systems for high value-added solutions required in the construction of high-rise buildings and demanding infrastructure projects. The acquired business generates annual sales of CHF 30 million.
MRC