Sika continues to expand its presence in Latin America. Another mortar factory has come on stream in Ecuador, and a new subsidiary has been set up in Nicaragua. These two growth initiatives tap into additional potential in Latin America and mark the ongoing successful implementation of Strategy 2018.
The new mortar factory in Durán near Guayaquil includes a packaging and logistics unit in addition to the production lines that will expand the product portfolio in the fast-growing mortar segment. The production facility is Sika's second in Ecuador. The increased production capacity will enable Sika to expand its market share and continue to tap into the potential offered by Ecuador's construction sector.
NEW SUBSIDIARY IN NICARAGUA
Sika has set up a new subsidiary in the Nicaraguan capital Managua so that it can distribute its own products and further increase its share in the country's flourishing construction market. Sika products have been marketed through distributors in the country since 1998 and are an established brand.
Nicaragua is one of strongest growing countries in Latin America. The development of the country's infrastructure, which includes road and mining projects, ports, hospitals and schools, is in under realization. Residential construction offers further potential. According to forecasts, cement consumption in the country's booming construction sector is set to triple over the next few years.