Gypsum industry news

Switzerland: Saint-Gobain has ended its takeover battle for Sika by reaching an agreement with the company and the Burkard family. The deal will see it retain a 10.75% share in Sika. However, it has acquired Schenker-Winkler Holding’s 6.97% share from the Burkard family and it has sold this stake to Sika for Euro1.74bn. Saint-Gobain is expected to make a profit of Euro600m on this sale. Saint-Gobain will gain additional voting rights and all legal proceedings will be dropped. Saint-Gobain and Sika have also agreed to extend their business relationship in the future.

"This is a very positive settlement for Saint-Gobain, both from a financial and a strategic perspective. We materialise a substantial positive net result in excess of Euro600m for our shareholders. We also retain a minority stake in a great company and will enhance the relationship between the two groups," said Pierre-André de Chalendar, chairman and chief executive officer of Saint-Gobain.

Saint-Gobain attempted to takeover Sika through acquiring a share of the company owned by the Burkard family in 2014. However, legal counteraction followed and an attempt to transfer shares of Sika from the Burkard family was blocked by a Swiss court in late 2016.

Switzerland: Sika’s sales rose by 8.9% year-on-year to Euro5.3bn in 2017 in local currencies. The chemical production company attributed this to a strong fourth quarter with positive development of business in all regions, investments in new factories, the creation of new national subsidiaries and the launch of new products. A record net profit figure is expected for the 2017 financial year. Particular growth in the fourth quarter was noted in the US, Mexico, Argentina, China, Southeast Asia, the Pacific, the Middle East, Eastern Europe and Africa.

“We expect to break new records for both the operating result and net profit. With nine new factories, three further national subsidiaries, and seven company takeovers, we have made significant investment in growth markets as well as in growth platforms in the form of product technologies and distribution channels. These 19 strategic investments, our pipeline with innovative quality products and our global presence – we now have 100 national subsidiaries and more than 200 factories – allow us to look toward the future with optimism,” said chief executive officer Paul Schuler.

El Salvador: Sika is setting up a sales and distribution subsidiary in El Salvador. The unit will be the Swiss company's 99th national subsidiary around the world.

"Sika already has a strong market position in El Salvador, as we have been supplying the construction sector out of Guatemala for many years. With this new national subsidiary we can develop the market more efficiently and grow more rapidly. Our aim is to further develop Sika's leading position, particularly in the Sealing & Bonding target market," said José Luis Vázquez, Sika's Regional Manager for Latin America.

Turkey: Switzerland's Sika has acquired ABC Sealants, a manufacturer of construction sealants and adhesives. The purchase is intended to strengthen Sika's market position in Turkey and to function as a distribution and production hub for the Middle East and Africa. ABC Sealants is based in Istanbul and it operates one manufacturing plant.

Switzerland: Ivo Schädler has been appointed as Sika's regional manager for the Europe, Middle East and Africa (EMEA) region and will join Group Management. He succeeds Paul Schuler, who was appointed chief executive officer (CEO) in May. Both commence their new roles on 1 July 2017.

Schädler, aged 51 years, began his career at Sika in 1997. He held various management positions at the Swiss national subsidiary before becoming General Manager for the UK and Ireland in 2012. In this role he completed the acquisition and integration of Everbuild Building Products, a UK manufacturer of sealants and adhesives. In 2015 he was appointed Area Manager Europe South and Head EMEA Target Market Refurbishment.

Schädler is a qualified materials science engineer from the Swiss Federal Institute of Technology in Zurich (ETH Zurich) and also holds an MBA. He is a Swiss national and is married with two children.

Switzerland: Sika has appointed Paul Schuler, currently Regional Manager Europe Middle East Africa (EMEA), as its chief executive officer (CEO) with effect from 1 July 2017. He succeeds Jan Jenisch who has accepted to become the new CEO of LafargeHolcim. Schuler has worked at Sika for 29 years and has been a member of the group management since 2007. He served as Regional Manager North America from 2007 to 2012 and as Regional Manager EMEA from 2013 until the present.

France/Switzerland: Saint-Gobain has extended its agreements with the Burkard family relating to the sale of the shares of Schenker-Winkler Holding (SWH), which holds the majority of Sika voting rights, to 31 December 2017. Saint-Gobain will then have the right to extend the agreement up until 31 December 2018. The building products manufacturer said that that the further extension reflected its determination to eventually buy Sika.

Saint-Gobain has attempted to buy Sika since at least 2014. An attempt to transfer shares of Sika from the Burkard family was blocked by a Swiss court in late 2016.

Switzerland: The Board of Directors of Sika has made a series of management changes that will take effect from 1 April 2017.

Thomas Hasler, the Chief Technology Officer, has been appointed as the Head of Industry. The Target Market Industry serves the markets automobile and commercial vehicle industry, automotive aftermarket, renewable energies, and facade engineering. The new position will also include responsibility for the two global business units Automotive and Tooling & Composites.

Yumi Kan, the Head Building Systems & Industry, has been appointed as the Head of Construction which will include markets in concrete, waterproofing, refurbishment, sealing and bonding, flooring and roofing. Combining these markets is intended to enable Sika to strengthen its services for global customers and key accounts as well as for large construction projects with cross-selling potential.

Ernesto Schuemperli, the Head of Concrete & Waterproofing, has been appointed as the Head of Infrastructure & Mining, directly reporting to the chief executive officer. He will also support the change to the new organisation of the target markets.

Frank Hoefflin, currently the Technology Head of Thermoplastic Systems, has been appointed as the Chief Technology Officer and member of group management. Hoefflin joined Sika in the USA and has worked in both the USA and Switzerland in various research and development functions. He holds a PhD from the University of Freiburg in Germany and is a US and German citizen.

Heinz Gisel, currently the Regional Manager for Asia/Pacific, has decided to step down from his position in order to take a sabbatical. Gisel will return in the second half of 2017 and assume a new position within Sika.

Mike Campion, currently Head of Area Greater China, has been appointed as the Regional Manager of Asia/Pacific and member of the group management. Campion joined Sika in the USA and has held several management positions in the USA and China. He holds a degree in Science from Villanova University, Pennsylvania, and is a US citizen.

Switzerland: Sika's net sales rose by 4.7% year-on-year to Euro5.40bn in 2016 from Euro5.16bn in 2015. Its net profit rose by 21.8% to Euro533m from Euro437m. the company attributed this to growth in all regions.

"We continued our growth strategy with great success in the 2016 business year, once again increasing both sales and earnings. Operating profit, net profit and operating free cash flow reached new records. By opening nine new factories, establishing four more national subsidiaries and acquiring four companies, we have laid the foundations for ongoing future growth," said chief executive officer Jan Jenisch.

Switzerland: Sika is expecting a record profit in 2016 following a 5.6% year-on-year rise in sales to Euro05.4bn in 2016. The construction chemicals producer reported growth in all regions, with above-average growth rates recorded in the USA, Mexico, the UK, Africa, Southeast Asia and Australia.

"With investments in nine new factories, four new national subsidiaries and four acquisitions, we have established the basis for future growth. These 17 investments, together with our pipeline of new products and our strong sales organisation, allow us to look with much confidence to the future," said Sika's chief executive officer Jan Jenisch.