Switzerland’s specialty chemical company, Sika Corp. has recently acquired Propex Holding’s Tennessee-based Concrete Fibers business, which includes a U.S. plant that manufactures synthetic fiber used in concrete reinforcement.
According to Sika spokesperson, the acquired business would be a perfect addition to the company’s concrete systems for value-added solutions required in the construction of multi-story buildings and challenging infrastructure projects.
The acquisition of the Concrete Fibers business would be a step forward in Sika’s expansion in fibers, following the acquisitions of FRC Industries, USA, and Radmix, Australia, as well as the opening of a fiber production line in Germany.
Christoph Ganz, Sika’s Regional Manager of America, was quoted saying that the acquisition of Propex’s global Concrete Fibers business and the Fibermesh brand would be a perfect fit to Sika’s current portfolio. The acquisition will also bring greater value to Sika’s new and existing customers within the precast and ready-mix concrete market, Ganz said.
The Fibermesh brand is the industry standard for performance and quality, and as part of Sika, Fibermesh is expected register huge growth opportunities, especially as a solution for construction in big city projects and for the firm’s Tunneling & Mining business, Ganz added.
As per Sika officials, the acquired business would combine the well-established Fibermesh brand and its industry-leading technical knowhow. Combined with the company’s existing global fiber portfolio and concrete admixture product range, Sika would effectively expand its current offering to concrete customers worldwide. The production facility would also create a significant additional capacity for both macro and micro synthetic fibers to support Sika’s exponential growth, particularly in the region of America, claim Sika officials.
For the record, Sika is a leader in the production and development of chemical systems and products for sealing, bonding, reinforcing, damping and protecting in the construction and automotive industry. The company has subsidiaries in 101 countries around the world and manufacturers in over 200 factories. In 2017, the company with its more than 18,000 employees reportedly generated sales of CHF 6.25 billion.