Sika Acquires L.M. Scofield
Swiss construction chemicals company Sika has purchased US-based L.M. Scofield, a leading family-owned producer of concrete color additives for ready-mixed concrete and decorative products and treatments for concrete refurbishment. The purchase price was not disclosed.
Sika said the acquisition fitted perfectly with its accelerated growth strategy in North America where it has added four new production plants for mortars and admixtures in the past two years – in Denver, Atlanta and Philadelphia in the US and Vancouver in Canada. L.M. Scofield adds production plants in Los Angeles and Atlanta.
Separately, Sika has established a subsidiary in Kuwait, its 94th worldwide, in order to directly supply concrete admixtures and refurbishment products to the country’s booming construction market. The company has serviced the Kuwaiti market from neighboring countries since 2010.
Sika said Kuwait’s construction market is set to grow at a tremendous pace. Key national projects include an airport extension and an upgrade of the metropolitan transport network, which alone account for a total investment of $13 billion.
The company is aiming to have 100 national subsidiaries in place by 2018.
