Sika Acquires Contract Manufacturer in Switzerland
Sika AG, Baar, Switzerland, is acquiring plastic products manufacturer Biro Edwin Bischof AG, Romanshorn, Switzerland. Biro produces injection-molded parts for the European automotive industry on behalf of customers including Sika. The company generated sales of CHF 35 million in 2010 and employs approximately 150 people.
Biro Edwin Bischof AG was founded by Edwin Bischof in 1962. Today 55% of the company’s output is destined for the automotive industry. The vast majority of these parts are produced for Sika. Biro Edwin Bischof AG has come under increasing pressure in recent years as a result of the financial and business crisis. The acquisition will put it on a new financial footing and avoid a situation that would threaten its continued existence.
Biro Edwin Bischof AG has been producing parts for the automotive industry on Sika’s behalf for over ten years. By acquiring the company, Sika is therefore ensuring that production will continue and Sika’s various supply commitments to its partners will be upheld. Sika will work with the management team at Biro Edwin Bischof AG to realign the company and take restructuring steps wherever necessary. The aim is to return the company to the black and establish the site as a European centre of excellence for injection molding.
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