Sika acquires manufacturer of PU foam systems in Belarus
Sika has agreed to acquire Belineco LLC, a Belorussian manufacturer of polyurethane foam systems. According to Sika, with the acquisition the company will further expand its know-how in the production and development of polyurethane foams. Together, the two companies will gain better access to the trade distribution channels in Eastern Europe. Financial details were not disclosed. The acquired business generates annual sales of CHF 23 million (~ EUR 20.3 million). The transaction is subject to approval by anti-trust authorities.
Belineco, based near Brest, has been growing with strong momentum over the past years and has built up a solid market position in Belarus and Russia. In its state-of-the-art manufacturing facility, the company produces polyurethane foams sold via trade distribution channels in Eastern European markets. The acquisition provides Sika with expanded production capacity and know-how for polyurethane foam systems. With its geographical footprint focused on Eastern Europe, it complements the recently acquired Swiss-based Polypag polyurethane foam business. The acquisition of Belineco will enhance Sika’s product offering for the trade distribution channels and improve store penetration with larger distributors. It will open up cross-selling opportunities for the combined portfolio through these channels as well as for Belineco foams in Sika’s roofing and facade systems.
Ivo Schädler, Regional Manager EMEA, said: “The acquisition of Belineco will strengthen our Sealing & Bonding business in Eastern Europe and open up exciting, new cross-selling opportunities. The improved access to trade distribution channels will increase our market penetration in this region and drive the continued growth of both companies. We are happy to welcome Belineco’s employees into the Sika team and are excited about expanding our business together.”
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