MOSCOW (MRC) -- Sika is opening a new technology centre and manufacturing plant for high-quality adhesives and sealants at Pune in Maharashtra, India, said the company.
"Developments at the new R&D laboratories and the production in the new plant are aimed at meeting the rapidly growing demand in the Indian market," the company said in a statement. On its three new production lines, Sika said that it will mainly manufacture products for the transportation, construction, and renewable energy sectors.
Capacity details for the production lines were not disclosed. "Both the building industry and the automotive sector in India are benefitting from dynamic economic growth and ongoing urbanisation as well as from favorable government investment policies," the company said.
India is now the world’s fifth biggest market for cars, according to Sika. The construction industry is expected to grow by an average of 6.5% per annum from now until 2030, it said. Annual growth in the automotive sector in the same period should exceed 10%, the company added.
As per MRC, Sika has acquired Shenzhen Landun Holding, a manufacturer of waterproofing systems in China, for an undisclosed sum. Shenzhen Landun has a range of waterproofing products and technologies that "perfectly" complement Sika’s portfolio.
As MRC informed earlier, Sika commissioned a manufacturing facility in Dubai, United Arab Emirates (UAE), which produces epoxy resins aimed at flooring solutions. Sika has decided to invest in the expansion of its manufacturing facilities at the Dubai site in order to increase flexibility in production, shorten delivery times, optimize cost structures, and reduce inventories.
Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry. Sika has subsidiaries in 101 countries around the world and manufactures in over 200 factories. Its more than 20,000 employees generated annual sales of CHF 7.09 billion in 2018.
MRC