Switzerland-based Sika AG has bought a factory in Gunsan, South Korea, to strengthen its locally produced polyurethane flooring and coating range, the firm said in a statement.
The facility makes and distributes flooring and coating products, said Sika of Baar, Switzerland. It has a workforce of 28, the firm added.
Sika said it will use the distribution channels of the acquired factory to sell its existing product range, expand its network of outlets and enhance their offering with its existing products.
Heinz Gisel, regional manager Asia/Pacific said: “The capacity and product range expansion in Korea is an important step for Sika in this promising market.”
No price was disclosed for the deal.