Press Release: SIKA EXPANDS PRODUCTION FOR ADHESIVES AND SEALANTS IN INDIA AND OPENS TECHNOLOGY CENTER

SIKA EXPANDS PRODUCTION FOR ADHESIVES AND SEALANTS IN INDIA AND OPENS TECHNOLOGY CENTER

Sika is opening a new technology center and manufacturing plant for high-quality adhesives and sealants in Pune, a city in the federal state of Maharashtra. Developments at the new R&D laboratories and the production in the new plant are aimed at meeting the rapidly growing demand in the Indian market. On its three new production lines, Sika mainly manufactures products for the transportation, construction, and renewable energy sectors.

Situated 100 kilometers southeast of the port of Mumbai, Pune is one of India's main industrial centers. The city and its agglomeration represent more than eight million people. Vehicle manufacturers and automotive suppliers in particular have settled in Pune and nearby in the state of Maharashtra. The new Sika site at one of the region's key logistics hubs is ideally located in terms of transportation infrastructure, ensuring rapid and reliable deliveries to customers.

Morten Muschak, Corporate Target Market Manager Industry: "This latest investment in India allows us to further strengthen our position in the country's construction and industrial sectors. By expanding our own production and R&D facilities at this site, we can develop our local expertise and generate huge benefits for our customers. Customer-specific solutions can be developed, produced, and delivered within a very short period of time. Sika is laying the foundations for our long-term expansion and development in this key market."

RAPID ECONOMIC GROWTH CONTINUES

Both the building industry and the automotive sector in India are benefiting from dynamic economic growth and ongoing urbanization as well as from favorable government investment policies. India is now the world's fifth biggest market for cars. The construction industry is expected to grow by an average of 6.5% per annum from now until 2030. Annual growth in the automotive sector in the same period should exceed 10%.

CONTACT

Dominik Slappnig

Corporate Communications &

Investor Relations

+41 58 436 68 21

slappnig.dominik@ch.sika.com https://www.globenewswire.com/Tracker?data=3s5i-frwpVUEDmBdqqN3C2gfVN5T0a2gHJ0h2Z3tViIMPMbZIZAmaIxMMhQGyq8V5EBAQDhd5NYNq-CcBbBtOUvsDFfAEY4sPq1rNgItWFzQPwsR4z45Bx8saHamXbmr

SIKA CORPORATE PROFILE

Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry. Sika has subsidiaries in 101 countries around the world and manufactures in over 300 factories. Its 25,000 employees generated annual sales of CHF 7.88 billion in 2020.

The media release can be downloaded from the following link:

Media Release https://www.globenewswire.com/Tracker?data=D5eMKsBgOOKS9eJgZAUJi-qRUTqsfqqKqxViCiJqLPTBQYw469GrtH8pheN27g8EhO-ES1fhjGShmFgNmBAfi-3jKWcGV_dIFnz5TQJOy0nvMDcy7wdJ4D9vmMrBcISypc3M13yJEjUK3fL5QneyxBfnormEJCH3VhcyD0ftgVg=

(END) Dow Jones Newswires

December 14, 2021 01:00 ET (06:00 GMT)