Application for business integration between Sika and the Turkish group Akkim is filed
Sika's new plant is in Palmira Photo: Courtesy
TL;DR
- The SIC is analyzing a proposed business integration between Sika and the Akkim Group.
- Sika plans to acquire 100% of the shares and exclusive control of Akkim Yapı Kimyasalları Sanayi ve Ticaret Anonim Şirketi, Akfix Kimya Ticaret Limited Şirketi, Akde Kimya Sanayi ve Ticaret Anonim Şirketi, and Akkim Europe Srl.
- This integration could impact the relevant markets for polyurethane foam, adhesives, and waterproofing products nationally.
- Sika Colombia manufactures and commercializes specialized chemical products for construction and industry.
- The Akkim Group is an international producer of chemicals, specializing in adhesives, sealants, polyurethane foams, aerosols, and waterproofing products, with operations in Turkey and Romania.
- The parties argue that polyurethane foam products are perceived as interchangeable by customers due to similar chemical composition and function, with distinctions often based on marketing rather than formulation differences.