Sika's successful merger and acquisition of Paris is complementary to each other

Parry products include exterior wall mortar, ceramic tile bonding, waterproof mortar. Parry provides professional mortar solutions in renovation and construction, covering the entire construction cycle. It is worth mentioning that Parry also has a strong share in distribution channels, especially in the Chinese market, which has established 90,000 sales outlets. Pyrex has a strong well-known brand, known for its comprehensive professional R&D and technical expertise. It operates 74 factories in 23 countries and occupies a major position in 8 core markets.

Merger and acquisition of Pali will strengthen the growth of Sika. Parry's mortar business will generate double revenue to 2.3 billion Swiss francs, which is the group's main technology development and important profitability component. Parry's strong position in distribution channels will open new business opportunities for Sika's product system. At the same time, Parry will acquire the mature direct marketing channels that Sika already has. Parry's expertise in exterior wall and tile laying also brings Sika into these growing and promising markets. Sika's global chief executive, Mr. Paul Schuler, said: "Mergers and acquisitions have strengthened our alliance, and the business alliance between Paris and Sika has provided an excellent growth platform for both companies. In addition to highly complementary products and channels, we also see that Parry and Sika have very similar corporate culture, values and management styles - both focus on customer first, incentive empowerment, high-quality products and services. The merger and acquisition plan is going smoothly, and the on-site visits have convinced me of the advantages of the merger of the two companies. We are actively working together to build a successful future. We warmly welcome all Pali employees to join the family of Sika.

Mr Eric Berglei, global CEO of Paris, said: "I am proud of our achievements, I want to thank the global Paris team, and thank you for your excellent work. For today, Sika and Parry have been working together for more than a month to show me that two great team contributions can bring a lot of value to each other. We are confident in the future."

Sika is a special chemical company, which has a world-leading position in the research and development and production of systems and products for bonding, sealing, noise reduction, reinforcement and protection in the construction and automotive fields. Sika Group's subsidiaries are located in 101 countries and regions around the world, with more than 200 manufacturing plants. The group has more than 20,000 employees and sales of 7.09 billion Swiss francs in 2018.