Sika acquires market leader in roofing and waterproof systems in Egypt
Sika has acquired Modern Waterproofing Group, a leading manufacturer of roofing and waterproofing systems in Egypt.
Sika has acquired Modern Waterproofing Group. Image source: WikiImages - Pixabay (symbol image).
-The acquisition supplements and is suppoded to roundd off the product portfolio of Sika Egypt and offers new opportunities for growth in the Egyptian construction market. The acquired business generates annual sales of EUR 24 million.
Production facility in Badr City
Modern Waterproofing is based in Cairo with a production facility in Badr City which is a logistically ideal location close to Cairo and the New Administrative Capital. It manufactures solutions for the waterproofing and roofing markets, focusing on a comprehensive range of modified bitumen membranes. As complementary products, the company also offers liquid coatings and insulation boards.
The acquisition is supposed to extend and complete Sika Egypt’s offering of roofing, waterproofing, and building envelope systems.
Ivo Schädler, Regional Manager EMEA: “Modern Waterproofing will enhance our market access to various customer segments both in direct sales and through the distribution channels. This will open up promising cross-selling opportunities in the area of waterproofing and roofing. The expanded product portfolio will significantly strengthen our position in the Egyptian construction market. We would like to welcome the employees of Modern Waterproofing to our Sika team and look forward to growing our business together.”
