Sika AG / SIKA OPENS NEW NATIONAL SUBSIDIARIES IN DJIBOUTI AND CAMEROON . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.
The establishment of new national subsidiaries in Djibouti and Cameroon takes the total number of subsidiaries on the African continent to 18. This increases Sika’s international presence to a global total of 97 national subsidiaries.
The East African state of Djibouti is an important location for market access to the neighboring country of Ethiopia, which is one of the largest in Africa. In addition to developing the local market, the subsidiary will supply Ethiopia’s fast-growing construction market.
A new national subsidiary has also been established in Cameroon, in the city of Douala. The new organization will assume responsibility for the distribution of concrete admixtures and mortar products throughout the country and continue to expand Sika’s market share in Cameroon’s flourishing construction market. Sika products have been marketed through distributors in the country for more than a decade.
The West African country’s building industry is growing dynamically under the stimulus of investments in infrastructure and residential construction. Important projects include the expansion of the Kribi seaport in the south of the country, the extension of the country’s rail network and the construction of stadiums for the 2019 African Cup of Nations.