Sika is expanding its presence in the Asia/Pacific Region with the establishment of Sika Sri Lanka. This represents another milestone in Sika‘s ambitious growth strategy, with a clear focus on the accelerated build-up of operations in emerging markets. Sri Lanka is experiencing a construction boom, driven by infrastructure developments and fast-growing tourism.
“Our presence in Sri Lanka complements Sika’s supply chain in the Asia/Pacific region," said Heinz Gisel, president of Sika Asia/Pacific. "It is the third step we have taken in 2014 to accelerate Sika’s growth in the region following the inauguration of new plants in Surabaya, Indonesia and Jhagadia, India. It effectively proves our ability to quickly gain ground in promising markets and to grasp business opportunities arising in Asia.” Sika is the first international player in the construction chemicals industry to establish a presence in Sri Lanka.
Sri Lanka has seen strong economic growth since the end of the conflict in 2009. The World Bank expects the local economy to grow by 7.3 percent in 2014, thereby maintaining 2013’s momentum.
Tourism, one of the country‘s most important sectors, is showing even stronger growth with tourist arrivals expected to rise by 10% annually until 2017. Extensive hotel and infrastructure developments will stimulate the construction industry. A flagship project supported by the World Bank aims to transform the metropolitan region of Colombo into a competitive and environmentally friendly world-class capital.
Sika Sri Lanka supplies a range of key products to the construction industry in the country. The company’s own concrete admixture production facilities and laboratories are under construction and scheduled to become operational by the end of the year.