Market-Place-4.0 Sika AG MBCC Group

20.01.2023

Sika to sell selected MBCC Group admixture assets to INEOS Enterprises

• Sika AG and INEOS Enterprises have signed an agreement for the acquisition of MBCC Group’s admixtures assets in the US, Canada, Europe, and the UK and its entire operations in Australia, and New Zealand
• Divestment is a key milestone for Sika to close MBCC Group acquisition
• Sika confirms synergy potential of CHF 160-180 million following expected closing in first half of 2023

Sika AG and INEOS Enterprises, a subsidiary of INEOS, have signed an agreement for the acquisition of MBCC Group’s admixtures business in the US, Canada, Europe, and the UK and its entire operations in Australia and New Zealand (“Disposal Perimeter”) by INEOS Enterprises. The divestment is part of the required remedy process in Sika’s acquisition of MBCC Group. The Disposal Perimeter generated net sales of around CHF 920 million by the end of 2022 and includes production sites and sales offices in 36 countries with more than 1,600 employees.
Thomas Hasler, CEO of Sika: “The agreement with INEOS Enterprises marks a key milestone in Sika’s acquisition of MBCC Group. I am convinced that we have found a long-term home for the MBCC Group’s admixture business. The perfect new owner who will further develop the business together with a talented and driven MBCC Group team. At the same time, Sika has taken a tremendous leap forward on its path to joining forces with MBCC Group. Together we will strengthen our growth platform further.”
Ashley Reed, CEO INEOS Enterprises: “I am very pleased to have agreed the acquisition of MBCC Group’s Admixture business, these well invested and well positioned sites, present new opportunities for INEOS to grow in the construction market. We have a strong track record of manufacturing excellence, running businesses safely and reliably and working closely with customers to meet their growth aspirations. I very much look forward to welcoming the business into INEOS.”
The completion of the transaction as well as Sika’s acquisition of MBCC Group are subject to regulatory approvals and expected in first half of 2023. Sika expects annual synergies of CHF 160-180 million following closing. The company has already received unconditional regulatory approval for the acquisition of MBCC Group in countries such as Japan, China, Brazil, South Africa, Saudi Arabia, Turkey, Thailand, and Mexico.

Source: Sika

#INEOS #mergers and acquisitions #divestment #construction #Sika AG #MBCC Group #Construction materials, products #construction chemicals #concrete

                     

19.01.2023

Orica appoints Dr Vanessa Guthrie AO to the board

Chairman Malcolm Broomhead announced the appointment of Dr Vanessa Guthrie AO as independent, Non-Executive Director, to the Orica Board effective 1 February 2023.  

19.01.2023

ABB opens Mexico Technology and Engineering Center (MXTEC) to increase project delivery across North America

• New facility in Merida, Yucatan, Mexico to expand engineering capacity by approximately 25 percent
• Initial $1million investment in MXTEC supports state government aims to develop as a technology and cyber security cluster
• A team of ABB digital and automation specialists will staff the operations center  
  
  

18.01.2023

BEUMER Group: Kay Wieczorek is the new Head of the Center of Competence (CoC) Product Business

• A breath of fresh air in the product business

Since the beginning of the year, Kay Wieczorek has headed the Center of Competence (CoC) Product Business as Divisional Director. CoC Product Business is responsible for the Cement, Building Materials, Chemicals and FMCG divisions.  

17.01.2023

A new Approach to sharing the Burden of Carbon Dioxide Removal

Carbon dioxide removal is key to meeting the climate goals outlined in the Paris Agreement. A new study analyzes what fair and equitable burden-sharing means for nature-based carbon dioxide removal in developing countries.