SIKA ACQUIRES STRONG PLAYER IN US MINING INDUSTRY

LYNDHURST, N.J., July 6, 2023 /PRNewswire/ -- Sika has acquired Thiessen Team USA, a US manufacturer of shotcrete and grouting products for the mining industry in the USA. The company serves the Western US mining industry which produces essential minerals for the growing electric vehicle industry among many other critical minerals. The acquisition will open up significant cross-selling potential and support Sika's expansion in the US mining market.

Thiessen is a family owned business serving the mining industry in the Western region of the USA with shotcrete and grouting solutions that enable increased efficiency in mining operations. Thiessen has long-established, strong relationships with large mining customers and has built a reputation for excellent quality, hands-on technical support, and fast reaction times. The company operates two production facilities which are strategically located close to large mines in the western US, which among other excavate materials essential for the production of batteries. With the expanded investments in manufacturing of electric vehicles in the USA, demand for these critical minerals is expected to significantly increase going forward.

Increasing sustainability requirements in mining operations represents a significant potential for Sika's robust range of solutions. A groundbreaking development is Sika's unique technology for cement-free concrete which is already used for backfilling of shafts in the world's largest iron ore mine in Sweden and will now be rolled out in the entire Americas region. Sika already has a strong presence in the mining industry in Latin America and Canada, which was significantly expanded through the acquisition of King Packaged Materials Company in 2019. The acquisition of Thiessen will in a similar way improve access to US mining projects. Sika products such as structural fibers, shotcrete accelerators, and backfilling solutions will complement Thiessen's offering and further support market penetration.

Christoph Ganz, Regional Manager Americas: "The acquisition of Thiessen supports our expansion in the exciting mining business in the USA and provides Sika with a wider presence in mining across the Americas region. The offerings of Sika and Thiessen are highly complementary and open up significant cross-selling potential with new and existing mining customers. We look forward to a successful joint future and would like to extend a very warm welcome to the Thiessen employees as they join the Sika team."

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 more than 27,500 employees generated annual sales of CHF 10.49 billion in 2022.

SOURCE Sika Corporation