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12.01.2022 (321 Clicks)

Anglo American completes Sale of Shareholding in Cerrejón Mine

Anglo American plc announces the completion of the sale of its 33.3% shareholding in the Cerrejón joint venture to Glencore plc for a total cash consideration of approximately US$294 million, based on an effective economic date of 31 December 2020.

12.01.2022 (340 Clicks)

JLT Mobile Computers completes Acquisition of French Sales Partner ID Work that becomes JLT France

As part of JLT’s growth strategy to strengthen its sales channel, the acquisition reinforces the company’s French presence and commitment to one of its largest and most important European markets.

12.01.2022 (415 Clicks)

Future Minerals Forum: Ministerial Participants emphasize Need for Collaboration with Mining Industry Stakeholders

The Kingdom of Saudi Arabia, under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, convened the inaugural Future Minerals Forum (FMF), in Riyadh from January 11 to 13, 2022 to advance dialogue on future minerals, investment in mining, and collaboration across the region from Africa to Central Asia.

12.01.2022 (358 Clicks)

Nordic Iron Ore appoints interim CEO

Nordic Iron Ore's CEO Lennart Eliasson retired at the turn of the year. Lennart Eliasson will continue as interim CEO on a consulting basis.

11.01.2022 (550 Clicks)

German Entrepreneur and Founder of H. Paus Maschinenfabrik GmbH, Hermann Paus passed away on 27.12.2021

On Dec. 27, 2021, Hermann Paus, entrepreneur and founder of H. Paus Maschinenfabrik GmbH, passed away. He would have turned 90 on January 28.

11.01.2022 (309 Clicks)

Sika postes Record Sales for 2021 – Growth of 17.1%

• Sales increase of 17.1% in local currencies – 2021 sales at CHF 9.24 billion (+17.3% in CHF)
• Additional growth platforms created through seven acquisitions: Kreps (Russia), DriTac (USA), BR Massa (Brazil), Hamatite (Japan), American Hydrotech (USA), Bexel (Mexico), and Landun (China)
• Signing of MBCC Group takeover agreement – closing planned for second half of 2022
• Expansion of production sites in Stockholm (Sweden) and Doha (Qatar), commissioning of new production sites in Jiaxing City (China) and Pune (India), establishment of a new national subsidiary in Ghana
• Over-proportional increase in EBIT and EBIT margin of 15% anticipated for 2021
• Confirmation of 2023 strategic targets for sustainable, profitable growth

Sika performed well in a challenging environment in 2021, once again demonstrating the strengths of its business model. Despite the persistent Covid-19 pandemic and bottlenecks in the procurement of raw materials, sales rose significantly to a record CHF 9.24 billion, corresponding to growth of 17.1% in local currencies. The currency effect came to 0.2%. The acquisition effect was 2.0%, and organic growth amounted to 15.1%. Compared with the same period in 2019, the organic gain was 11.9%.

Thomas Hasler, Chief Executive Officer: “2021 was expected to be a challenging year and it proved to be a very successful one for Sika. We are benefiting from a number of growth platforms and are in an ideal position to achieve long-term success. Thanks to our innovative technologies, we are the partner of choice for many customers in the construction and industrial sectors. We have solutions in place for all the development stages of construction markets, and government supported investment programs running into the billions will provide further impetus for our business. In addition, we are making targeted use of the megatrends that drive our key markets. There is huge demand for sustainable solutions. Our products and services enable our customers to reach their ambitious sustainability goals.”

Update on MBCC acquisition

In November 2021, Sika signed a binding agreement to acquire MBCC Group (the former BASF Construction Chemicals). With sales of CHF 2.9 billion, MBCC Group is a leading supplier of construction chemicals worldwide. This acquisition will complement and broaden Sika’s product and solutions offering in four of five core technologies and seven of eight Sika Target Markets, while further strengthening the company’s geographic footprint. This transaction will give rise to a major player supporting greater sustainability.

The market for construction chemical products and solutions is set to grow to around CHF 80 billion by 2023 and, as it is heavily fragmented, will continue to offer substantial growth opportunities even after Sika's acquisition of MBCC. MBCC generates around 53% of its sales in the construction systems sector and the remaining 47% in the concrete admixtures segment. The acquisition is subject to regulatory approval. Sika is confident it will obtain all required approvals in a timely manner and will work closely with the authorities. The closing of the acquisition is targeted for the second half of 2022.

Market share gains in all regions in 2021

In an environment characterized by a number of temporary lockdowns, Sika grew more strongly than the market in all regions in 2021. Distribution business also posted significant gains in all regions.

The EMEA region (Europe, Middle East, Africa) reported a sales increase in local currencies of 16.1% (previous year: 4.4%). As in 2020, growth in distribution and refurbishment business outstripped growth in the other business segments. Nearly all countries in the region achieved double-digit growth rates. The countries in the Middle East, along with Eastern Europe including Russia, the UK, as well as the countries in Africa benefited from a boost in growth. In general, purchases of Sika product solutions via e-commerce platforms saw an above-average increase.

In the period under review, Sika acquired Kreps LLC, a leading manufacturer of mortar products in Russia, thereby further expanding both its existing product portfolio and its geographic presence.

The Americas region recorded growth in local currencies of 21.0% (previous year: 1.0%). In the USA, Sika gained substantial momentum. Growth was driven primarily by large-scale refurbishment projects and new-build projects in the area of distribution and data centers. Strong growth rates were achieved in particular in Mexico, Colombia, Brazil, Peru, and Chile. In the Americas region the strategic focus of business activities on big cities and metropolitan areas again paid off, as did the concentration on major infrastructure projects and the targeted realization of cross-selling potential.

In the period under review, Sika acquired DriTac, a US-based company with a strong market position in the area of wood floor bonding. In addition, a manufacturer of mortar products in Brazil was brought into the Sika Group in the form of BR Massa. Thanks to this acquisition, Sika improved its position in one of the leading economic regions of Brazil, as well as expanding its production capacity.

In July, the company acquired American Hydrotech Inc. in the USA and its Canadian subsidiary Hydrotech Membrane Corporation. Hydrotech is an established manufacturer of liquid membranes and offers comprehensive solutions for roofing and waterproofing. It is the clear market leader in North America in the rapidly growing green roof systems segment.

Furthermore, Sika acquired the family-run company Bexel Internacional S.A. de C.V., a leading manufacturer of tile adhesives and stuccos in Mexico. With this acquisition, Sika is expanding its position in the rapidly growing Mexican market for mortar products and is significantly increasing its production capacity with five strategically positioned production facilities.

Sales in local currencies in the Asia/Pacific region increased by 19.4% (previous year: 12.6%). Last year, China in particular benefited from the ongoing strong growth momentum with double-digit organic growth rates and successfully expanded its infrastructure and distribution business. India continued to see a dynamic development, while the countries in Southeast Asia recovered slowly from the severe lockdowns in the last quarter of the year. The trend in Japan remains challenging. Investment activity in the country’s construction market is still subdued.

During the period under review, Sika acquired Hamatite, the adhesives division of Yokohama Rubber Co., Ltd. Hamatite is a market leader in Japan, offering adhesives and sealants for the automotive and construction industries. The acquisition significantly improves Sika’s position in the Japanese market, giving it more comprehensive access to all major Japanese automotive manufacturers and a broader range of sealants and adhesives for the Japanese construction sector.

In China, Sika acquired Shenzhen Landun Holding Co., Ltd., a manufacturer of a comprehensive range of waterproofing products and technologies . The company operates two state-of-the-art production facilities that manufacture a full range of membranes and coatings for various waterproofing applications, mainly supplying infrastructure and commercial projects.

In the Global Business segment, Sika achieved growth in local currencies of 4.3% (previous year: –11.4%). Over the past financial year, the automotive industry experienced major bottlenecks in the electronic components supply chain. Whereas forecasts at the beginning of the year predicted a strong recovery in the volume of new vehicles manufactured compared with the previous year, there was in fact a sharp decline in the second half owing to the lack of availability of semiconductors. Nevertheless, Sika anticipates continued growth stimuli from the megatrends evident in modern automotive production: electromobility and lightweight construction. In particular, the transition from traditional drive systems to electromobility gained pace during the pandemic and is benefiting from various government support programs in a number of countries.

Outlook

Sika is confirming its 2023 strategic targets. The company's focus remains on long-term success and profitable growth. With its focus on the six strategic pillars – market penetration, innovation, operational efficiency, acquisitions, strong corporate values, and sustainability – Sika is seeking to grow by 6%–8% a year in local currencies up to 2023. As of 2021, the company is aiming for a higher EBIT margin of 15%–18%. Projects in the areas of operations, logistics, procurement, and product formulation should result in an annual improvement in operating costs equivalent to 0.5% of sales.

For the 2021 fiscal year, Sika is anticipating an over-proportional increase in EBIT and an EBIT margin of 15%.

Source: Sika

                     

11.01.2022 (320 Clicks)

Hurricanes, cold Waves, Tornadoes: Weather Disasters in USA dominate natural Disaster Losses in 2021

• In 2021, natural disasters caused overall losses of US$ 280bn, of which roughly US$ 120bn were insured
• Alongside 2005 and 2011, the year 2021 proved to be the second-costliest ever for the insurance sector (record year 2017: US$ 146bn, inflation-adjusted) – overall losses from natural disasters were the fourth-highest to date (record year 2011: US$ 355bn)
• Hurricane Ida was the year’s costliest natural disaster, with overall losses of US$ 65bn (insured losses of US$ 36bn)
• In Europe, flash floods after extreme rainfall caused losses of US$ 54bn (€46bn) – the costliest natural disaster on record in Germany
• Many of the weather catastrophes fit in with the expected consequences of climate change, making greater loss preparedness and climate protection a matter of urgency

10.01.2022 (322 Clicks)

Hexagon strengthens its Life-of-mine Solutions Portfolio with the Acquisition of Minnovare

Hexagon AB, a global leader in digital reality solutions, combining sensor, software and autonomous technologies, acquired Minnovare, a leading provider of drilling technology that improves the speed, cost and accuracy of underground drilling.

07.01.2022 (316 Clicks)

Robbins XRE TBM crosses the finish Line at Chile’s Los Condores HEPP

A Robbins 4.6 m (15.1 ft) diameter Crossover machine holed through in the Andes Mountains of Chile in the last quarter of 2021. The XRE TBM bored a 3.3 km (2.1 mi) long tunnel for Chile’s Los Condores Hydroelectric Power Project (HEPP) and project owner Enel.

07.01.2022 (328 Clicks)

„Mechanical and plant engineering industry urgently seeks skilled workers“

Commenting on the current situation on the labour market, VDMA Executive Director Thilo Brodtmann explains: 'Despite the still tense Corona situation, demand for labour in the mechanical and plant engineering industry remains high.