July 26, 2018 / 10:52 AM / 5 months ago

Sika ready to accelerate M&A activity with bigger deals

FILE PHOTO: Paul Schuler, Chief Executive Officer of the Swiss chemicals group Sika addresses the company's extraordinary general meeting of shareholders in Baar, Switzerland, June 11, 2018. REUTERS/Moritz Hager

ZURICH (Reuters) - Swiss chemicals company Sika (SIKA.S) is ready to step up the pace and scale of its merger and acquisition activity after settling its bitter takeover battle with Saint-Gobain (SGOB.PA), Chief Executive Paul Schuler said on Thursday.

“I fully believe we can increase speed now because our current board is more willing to go for larger deals,” Schuler told a conference call after the company reported better-than-expected half year profit.

Sika, whose products include adhesives for the construction and automobile industries, is currently in talks with “one or two” targets at present, Schuler said, and would look at deals in the 300 million to 500 million Swiss franc price range, he said.

Reporting by John Revill, editing by John Miller

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