Press Release: SIKA CONTINUES TO EXPAND PRODUCTION IN GROWTH MARKET INDIA

SIKA CONTINUES TO EXPAND PRODUCTION IN GROWTH MARKET INDIA

Sika is opening a new plant in Kharagpur, eastern India, and continues to expand production capacity in the fast-growing Indian market. The plant will manufacture mortar products, concrete admixtures, and shotcrete accelerators for customers in the West Bengal region, which has more than 100 million inhabitants.

By ramping up production capacity at its new site, Sika is expanding its supply capacity in eastern India. Alongside state-of-the-art manufacturing lines, the new factory offers office space, laboratories, and warehousing and logistics. The factory is located in an industrial park that profits from an ideal infrastructure. Overall, Sika has now twelve manufacturing facilities in India and has been active in the Indian market for close to four decades.

Mike Campion, Regional Manager Asia/Pacific: "For Sika, India is a growth market with enormous potential. The country is the most populous in the world and is showing strong trends toward industrialization and urbanization. To enable us to continue to grow at an above-average rate and benefit from the substantial volume growth in India's construction market, we are focusing on major infrastructure and building projects in the ten biggest metropolitan areas in the country. Our new plant in Kharagpur will allow us to service upcoming large-scale projects in the eastern and northeastern regions, including the capital Kolkata, in the most efficient manner."

INFRASTRUCTURE INVESTMENT FUELS GROWTH IN CONSTRUCTION INDUSTRY

Forecasts predict that India's construction sector will grow by 6.5% and by 6.4% in 2023 and 2024 respectively. This growth will be underpinned by both a thriving economy and investment spending on the part of central government. Funds are being channeled primarily into the expansion of road and rail transport and logistics infrastructures, with a view to bolstering industrialization momentum and increasing manufacturing capacities.

CONTACT

Dominik Slappnig

Corporate Communications &

Investor Relations

+41 58 436 68 21

slappnig.dominik@ch.sika.com https://www.globenewswire.com/Tracker?data=F9uiPkOfL7IiWjXGzS_MW5SGnKf270WoEpzrl6YUElpBKjGqXPzbUqpdzrFTcGthLMM-sT-8c5Z5z1K5RSuI_CUhuUHF0CTk4s0h_yN8GqA7GqY10FSAihcDhCcuBccq

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

The media release can be downloaded from the following link:

Media Release https://www.globenewswire.com/Tracker?data=9ialNJvzqsqKpLektTKFgwrPMYKiTgmtkeGSWs3zilIwbA1o8U_BiIYBF-Uz-nPjW7CY0PFjjG972lxO4yrhD5EH67w6qTeh-9NzXYuxzo3sB8SXeJyNTEFSyxO7o_eaFQXuWqpQo0lZkfKO0NUof18QPzSGx2ci4_nAcT1PThA=

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June 27, 2023 01:00 ET (05:00 GMT)