LYNDHURST, N.J., April 5, 2016 /PRNewswire/ -- Sika is excited to announce the acquisition of concrete color additive and decorative concrete products producer L.M. Scofield Company of Los Angeles, California. Scofield is a 100 year old family owned company and is the most trusted and recognized brand of concrete color additives and decorative products. Scofield and their complete line of products, from integral concrete color to topically applied stains, are widely specified and highly regarded within the decorative concrete community for exceptional quality and customer service. This acquisition will accelerate Sika's US growth and further establish Sika as a comprehensive supplier of trusted solutions for all aspects of construction.
L.M. Scofield Company provides a unique opportunity that aligns with Sika's North American strategy for market penetration by building our customer base and expanding sales to existing customers with greater value added product offerings. This acquisition positions Sika as the concrete additive supplier that can produce and supply a complete line of high quality products including, but not limited to, high performance polycarboxylate water reducers, waterproofing admixtures, and now color additives.
Beyond our cultural alignment and our shared 100+ year history in the construction market, there are synergies within many other aspects of Sika's business including Refurbishment, Sealing and Bonding, and Flooring that will only strengthen Sika's position and competitive advantage in the construction market following the acquisition of Scofield.
This acquisition represents a step in Sika's strategy to provide a full line of complete construction products from "roof to floor". In particular, this new line of products further strengthens our position as the world's leading producer of concrete construction products. With double digit growth in the United States in 2015 without acquisitions, and well above general market growth, target market concrete is one of Sika's strongest growing areas. Scofield is a welcome addition and a key component to continued growth and Strategy 2018.
Christoph Ganz, President and CEO of Sika North America: "The acquisition of L.M. Scofield Company provides a unique opportunity for growth and makes a strong and positive statement to the market and our customers. Now the work begins to leverage these unique synergies so that we may fully realize the vast benefits. We are proud to welcome Scofield's employees into the Sika team and we are excited about growing our businesses together."
Phillip Arnold, President and CEO of L.M. Scofield Company: "For over 100 years we have strived to change the way the world looks at and uses concrete to make the places we live, work and play better and more beautiful. Through Sika, the dreams of Scofield are in the best possible hands to take the decorative concrete industry to greater heights with a wider audience to the benefit of all those involved."
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 protection in the building sector and the motor vehicle industry. Sika has subsidiaries in 93 countries around the world and manufactures in over 160 factories. Its approximately 17,000 employees generated annual sales of CHF 5.49 billion in 2015.
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SOURCE Sika Corporation