Sika acquires Japanese waterproofing leader

Swiss-based construction chemicals manufacturer Sika has acquired a majority stake in Dyflex HD of Japan, which is claimed to be the country's market leader in liquid waterproofing products.

A statement from Sika said, " This acquisition enables Sika to take a big step forward into the Japanese construction chemical market. Dyflex's products and technologies are complementary to Sika's and will be rolled-out to other countries through the global sales network of the Sika Group. Dyflex's customer base and sales channels present significant potential to Sika for cross-selling."

Dyflex had sales of JPY 14 billion (US$ 153 million) last year and employed 350 people. The company was established in 1964 and its founder, Keisei Miura continues to serve as CEO, and will stay on with the company following the acquisition.