Sika’s 100th subsidiary comes up in Bangladesh

The new national subsidiary allows Sika to directly market products as well as to optimise cost structures and further grow market share

Switzerland headquartered speciality chemical company for building and motor vehicle supplies, Sika has reached the milestone of 100th national subsidiary with the addition of the latest one in Bangladesh. The new national subsidiary allows Sika to directly market products that have already become established in the area through distribution partners, as well as to optimise cost structures and further grow market share. Sika has established 23 national subsidiaries in the past five years alone.

Sika CEO Paul Schuler, says, “We have established 23 national subsidiaries since 2012 and now generate 36% of our sales in emerging markets. We enter emerging economies early on and are well established in mature markets. This enables us to harness potential at all stages in the development of the local construction sectors and to sell our entire product portfolio whether the requirement is for materials needed in new build construction, products that help to meet higher building standards, or solutions for refurbishment projects.”

Bangladesh, a country of over 163 million inhabitants, boasts of a flourishing construction industry. The new local head office in Dhaka, Bangladesh’s capital city, enables Sika to benefit from the potential available in the local construction market, which, Sika says, has a total volume equivalent to CHF 15 billion and an annual growth rate of 12%.