Switzerland/Italy: Sika AG, the Swiss specialty chemicals company, is to acquire the global concrete admixture and cement grinding aid businesses of the Italcementi Group (directly or indirectly controlled by Italcementi or Ciments Français). The businesses are on the market under the brand Axim. Axim has approximately 150 employees in Italy, France, the US, Canada, Morocco and Spain. In 2010 it generated sales of around Euro61m.
"This agreement will allow the group to capitalise the value of this business," said Giovanni Ferrario, COO of Italcementi Group. "Moreover, this will further extend the relationship between Italcementi and Sika, enhancing the reputation of both companies as innovators in the field of concrete and cement."
This acquisition allows Sika to significantly strengthen its market position in the relevant countries. As Sika's CEO, Ernst Baertschi, said, "This acquisition is a major step for Sika in the process of expanding market shares in the admixture business worldwide."