Sika has agreed to acquire Ronacrete (Far East) Ltd., one of the leading suppliers of repair mortars, tile adhesives and other mortar products in Hong Kong.
This acquisition is in line with the global expansion of the high-margin mortar business – a core component of Strategy 2018. The Ronacrete plant brings Sika’s mortar footprint to 89 factories worldwide.
Ronacrete is a leading manufacturer of repair mortars, tile adhesives and other specialty products for the Hong Kong construction industry. With its excellent technical expertise the company has built up a strong specification business over the last few decades and has established itself as a preferred partner for private and public key developers in Hong Kong. Ronacrete is based in Hong Kong and operates an efficient production facility in the neighbouring Guangzhou province.
Hong Kong is a mega city with a rising demand for refurbishment. The construction market is expected to grow by more than 5% annually over the course of the next five years, also driven by an increase in public housing projects. By acquiring Ronacrete, Sika will extend its manufacturing footprint to better serve this market. The wider product range and improved market access will allow the combined businesses to fully participate in the growing Hong Kong construction market.
Heinz Gisel, Regional Manager Asia/Pacific: “The acquisition represents a further step in the expansion of Sika’s mortar business. It will provide us with access to new market channels and a comprehensive mortar range with an established market position. We welcome the Ronacrete employees to the Sika team and look forward to growing our business together.”
France has launched an offshore green hydrogen production platform at the country’s Port of Saint-Nazaire this week, along with its first offshore wind farm. The hydrogen plant, which its operators say is the world’s first facility of its type, coincides with the launch of another “first of its kind” facility in Sweden dedicated to storing hydrogen in an underground lined rock cavern (LRC).
The project sets up the Hydrogen Valley in Rome, the first industrial-scale technological hub for the development of the national supply chain for the production, transport, storage and use of hydrogen for the decarbonization of industrial processes and for sustainable mobility.
At first glance, hydrogen seems to be the perfect solution to our energy needs. It doesn’t produce any carbon dioxide when used. It can store energy for long periods of time. It doesn’t leave behind hazardous waste materials, like nuclear does. And it doesn’t require large swathes of land to be flooded, like hydroelectricity. Seems too good to be true. So…what’s the catch?