07/08/2011

www.plasticker.de

Sika acquires contract manufacturer in Switzerland

Sika AG, headquartered in Baar, is acquiring Biro Edwin Bischof AG, the Romanshorn-based plastic products manufacturer with strong skills in multi-component injection moulding. Biro Edwin Bischof AG produces components for the European automotive industry on behalf of Sika, including sound absorbing parts and reinforcers for bodywork structures. The company generated sales of CHF 35 million in 2010 and employs approximately 150 people.

Biro Edwin Bischof AG was founded by Edwin Bischof in 1962. Today 55 percent of the company's output is destined for the automotive industry. The vast majority of these parts are produced for Sika. Biro Edwin Bischof AG has come under increasing pressure in recent years as a result of the financial and business crisis. The acquisition should put it on a new financial footing and avoid a situation that would threaten its continued existence.

Biro Edwin Bischof AG has been producing parts for the automotive industry on Sika's behalf for over ten years. By acquiring the company, Sika is therefore ensuring that production will continue and Sika's various supply commitments to its partners will be upheld. Sika plans to work with the management team at Biro Edwin Bischof AG to realign the company and take restructuring steps wherever necessary. The aim is to return the company to the black and establish the site as a European centre of excellence for injection moulding.

About Sika
Sika AG, located in Baar, Switzerland, is a globally active specialty chemicals company. Sika supplies the building and construction industry as well as manufacturing industries (automotive, bus, truck, rail, alternative energies, building components). Sika is by its own account a leader in processing materials used in sealing, bonding, damping, reinforcing and protecting load-bearing structures. Sika's product lines feature high-quality concrete admixtures, specialty mortars, sealants and adhesives, damping and reinforcing materials, structural strengthening systems, industrial flooring as well as roofing and waterproofing systems. The company operates worldwide local presence in 74 countries and engages some 13 500 employees. Sika generates annual sales of CHF 4.4 billion.