Press Release: SIKA ACQUIRES LEADING GREEN ROOF PROVIDER IN SINGAPORE

SIKA ACQUIRES LEADING GREEN ROOF PROVIDER IN SINGAPORE

Sika has acquired Elmich Pte Ltd, a leading supplier of urban greening systems headquartered in Singapore. Elmich's first-class products are highly regarded by specifiers and its solutions have been used in many iconic buildings in Singapore and Australia. The acquisition complements Sika's roofing portfolio in the region and strengthens its specification business for commercial and residential projects.

Elmich is a trusted supplier of innovative, sustainable green roof solutions, renowned for their outstanding performance and durability. The experienced Elmich team collaborates closely with architects and owners in the design and specification of high-profile commercial and residential projects. Since the foundation 40 years ago, Elmich has built excellent relationships with major developers and a strong presence in the green roof segment. The company provides urban greening systems using proprietary expertise and products made from 100% recycled raw materials.

5.5% ANNUAL GROWTH: STRONG DEMAND FOR GREEN ROOFS IN ASIA/PACIFIC

With this acquisition, Sika is gaining a new platform for growth in the Asia/Pacific region. Sika will be able to leverage Elmich's specification approach across its broad product portfolio and strengthen the commercial and residential specification business in the region. In addition, the integration of Elmich's urban greening product range offers further exciting cross-selling opportunities with Sika's complementary roofing and waterproofing products and wider regional presence.

Green roofs and facades are fast-growing market segments, with an increasing number of projects being carried out in major cities. In the Asia/Pacific region, the market is forecast to grow at a CAGR of 5.5% to 2032. Urbanization in higher density cities leads to rising temperatures and poor air quality. Green roofs and facades contribute significantly to mitigating these conditions by reducing the urban heat island effect and improving air quality and biodiversity. In addition to their significant cooling effect, they also contribute to CO(2) reduction through their insulating properties, which result in energy savings, and facilitate the uptake and storage of carbon by the vegetation. By making a strong contribution to more sustainable urban environments, green roof and facade systems facilitate high ratings in green building certifications, a key requirement in many projects. This is being driven by both increasing demand and more stringent standards and regulations.

Philippe Jost, Regional Manager Asia/Pacific: "Green roofs and facades make metropolitan areas more livable by adding aesthetic appeal, improving air quality, and reducing heat. The acquisition will strengthen our position in big cities where green roofs are gaining momentum. Together, we will further develop our commercial and residential specification business, taking the full advantage of our combined expertise and product portfolios, as well as Sika's wider geographic reach. We warmly welcome the Elmich employees to the Sika team and look forward to developing our business together."

SIKA CORPORATE PROFILE

Sika is a specialty chemicals company with a globally leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protection in the building sector and industry. Sika has subsidiaries in 102 countries around the world, produces in over 400 factories, and develops innovative technologies for customers worldwide. In doing so, it plays a crucial role in enabling the transformation of the construction and transportation industries toward greater environmental compatibility. In 2024, Sika's around 33,000 employees generated annual sales of CHF 11.76 billion.

CONTACT

Dominik Slappnig

Corporate Communications and

Investor Relations

+41 58 436 68 21

slappnig.dominik@ch.sika.com https://www.globenewswire.com/Tracker?data=2hCxO_2B0CkIY1mQEBcvn2lHXaCdb9QXzdZk2U03-dScxSFtEv3YZt12MYCDlW9usuK6sThLjD9kvn5kdHgNhSD3RbOeTnDByDK5-KGiC6advS2YUG9wsVQeGC2x_DFw

The media release can be downloaded from the following link:

Media Release https://www.globenewswire.com/Tracker?data=K4cklbbk4zdDbRu9YUJKjb50BUN575-uoLo35pwqmDzei6miqtgQXPe3x4UmfNd_97YP8r_PzE4JYemXxTHxi8Yzy6LpFs-XR9_-zT1tlNzaDPeEMPQpQXTTyU9k0mFP05_b_T0fXahSvnvPf5ACO6dBBBn8EmepcHYoQuCZKNU=

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February 03, 2025 01:00 ET (06:00 GMT)