{"id":1671715,"date":"2022-10-04T09:57:28","date_gmt":"2022-10-04T13:57:28","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1671715"},"modified":"2022-10-04T09:57:39","modified_gmt":"2022-10-04T13:57:39","slug":"chemical-maker-sika-sets-higher-sales-goal-for-2023-hikes-2022-outlook","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chemical-maker-sika-sets-higher-sales-goal-for-2023-hikes-2022-outlook\/","title":{"rendered":"Chemical maker Sika sets higher sales goal for 2023, hikes 2022 outlook"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fchemical-maker-sika-sets-higher-sales-goal-for-2023-hikes-2022-outlook%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1671715&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By John Revill<\/p>\n<p>ZURICH (Reuters) -Sika expects to increase its sales between 15% and 18% next year, the Swiss company said on Tuesday, after raising its 2022 outlook and putting a chunk of the former BASF construction chemicals business it bought last year up for sale.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>The company\u2019s shares rose 6.1%, making it the best performing European building materials stock, after it said it expected its full-year sales to increase by more than 15% this year, up from its previous outlook of growth at \u201cwell over 10%\u201d.<\/p>\n<p>\u201cWe have had a strong year to date, and therefore we are in a position to lift our top-line expectations,\u201d Chief Executive Thomas Hasler told the company\u2019s investor day in Zurich<\/p>\n<p>In its first outlook for 2023, Hasler also expected Sika to increase its local currency sales by 15%-to-18% next year, boosted by infrastructure spending and robust markets like North America.<\/p>\n<p>The company \u2013 whose chemical products are used to strengthen and waterproof concrete \u2013 also expects in the first half of next year to complete the acquisition of MBCC, the former BASF construction chemicals business it bought for $6 billion last November.<\/p>\n<p>Sika has been forced by regulators in Australia, Britain, Europe, New Zealand and North America to sell part of the admixtures business to meet competition concerns.<\/p>\n<p>As a result, it will sell business that generated around 850 million Swiss francs ($862.07 million) in sales, but keep factories and other units that had sales of 2.15 billion francs in 2021.<\/p>\n<p>Sika announced the start of the sale process on Tuesday, and has identified 15-to-20 potential buyers, including companies involved in the construction market as well as financial bidders.<\/p>\n<p>\u201cWe have a nice line up of interested parties for this divestment,\u201d Hasler said. Sika was looking at potential trade buyers or financial investors, he added, as this was needed to satisfy regulators looking at the MBCC acquisition, he said.<\/p>\n<p>($1 = 0.9901 Swiss francs)<\/p>\n<p> (Reporting by John Revill; Editing by Rachel More, Sherry Jacob-Phillips and Barbara Lewis)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/chemical-maker-sika-sets\/attachment\/logo-of-swiss-chemical-group-sika-is-seen-in-zurich\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI9308H-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI9308H-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By John Revill ZURICH (Reuters) -Sika expects to increase its sales between 15% and 18% next year, the Swiss company said on Tuesday, after raising its 2022 outlook and putting<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1671715","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1671715","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1671715"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1671715\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1671715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1671715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1671715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}