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Propex Holding Sheds Concrete Fibers Unit to Sika
November 7, 2018
2 Min Read
Image courtesy of Sika
Specialty chemicals and industrial materials firm Sika Corporation announced the acquisition of the Concrete Fibers business from Propex Holding LLC on Tuesday, expanding the firm’s offerings of value-added products for the construction and infrastructure markets.
“The acquisition of the global Concrete Fibers business of Propex and the Fibermesh brand is a great fit with Sika’s current portfolio. It brings even greater value to existing and new Sika customers within the ready-mix and precast concrete market,” Christoph Ganz, regional manager Americas at Sika, said in a statement.
Sika’s purchase of the Chattanooga, TN-based business includes a 12,000 m2 manufacturing plant in the U.S. that produces synthetic fibers used to reinforce concrete. The Concrete Fibers unit, which includes the Fibermesh brand, brings in annual sales of about CHF 30 million.
“The Fibermesh brand is the industry standard for quality and performance. As part of Sika, we see enormous growth opportunities for Fibermesh, especially in our solutions for construction in big city environments and for our Tunneling & Mining business. We are very happy to welcome the Fibermesh employees to our Sika team,” said Ganz.
Coming after the firm’s purchase of Radmix, Australia and FRC Industries USA, the latest acquisition is part of the company’s efforts to expand its global fiber portfolio. Sika also recently opened a new fiber production line in Europe.
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