Last week, readers were most drawn to Sika’s first quarter sales record (Despite Slowed Growth in March Due to Pandemic, Sika Breaks Sales Record in 2020 First Quarter): “Sika recently announced that it had a good start to the 2020 business year and has continued its growth trajectory, reporting a new sales record of CHF 1.8 billion (approximately $1.9 billion) in the first quarter. This equates to an increase of 15.4% in local currencies. A negative currency effect led to sales growth in Swiss francs of 10.3%, with an acquisition effect of 16.7%. Organic growth was thus slightly negative in the first quarter (down 1.3%). This reflects the first repercussions on business of the COVID-19 pandemic.
“‘Since the start of the coronavirus pandemic, Sika has been quick to react in all markets affected, implementing the necessary measures swiftly and rigorously,’ said Paul Schuler, CEO. ‘This has been done with a view to safeguarding the health of employees, maintaining business activity, and adapting to the new market conditions through targeted cost management. The crisis will affect Sika, too, but—thanks to our proximity to customers in all countries—we are able to move fast in order to grasp opportunities and thus capture further market share. I want to thank all of our employees for their great dedication at this difficult time.’
“As the coronavirus pandemic gained ground in January 2020, first in China and then in the rest of Asia, followed by the EMEA region and the Americas region, from mid-March around 30 countries where Sika is present through subsidiaries and production sites found themselves in lockdown. The extent of the lockdown varies from country to country. Since the situation is changing constantly, Sika reports that it is adapting measures specifically in line with the new circumstances.”
Is COVID-19 impacting your business? I’d love to hear from you! Please contact me at suttons@bnpmedia.com.
Top 5 News that Sticks for April 26 - May 2
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Despite Slowed Growth in March Due to Pandemic, Sika Breaks Sales Record in 2020 First Quarter
#4 last week - Henkel Collaboration Enables Remote Monitoring of COVID-19 Patients
- Mactac Recognized as BioPreferred Pressure-Sensitive Adhesive Manufacturer by USDA
- Ashland Provides Update on its Fiscal 2020 Second Quarter and COVID-19 Impact
- MAPEI’s Storm Recognized as a 2020 Coverings Rock Star
This weekly roundup highlights the adhesives, sealants, and coatings-related news stories that garnered the most attention during the previous week on our website, as well as our eNewsletters and social media platforms.
