Swedish company Sika AG acquires Swiss automotive plastic parts company

Sika AG, a Swedish chemical company, is considering the acquisition of Biro Edwin Bischof AG, a Swiss automotive plastic parts company. The transaction price has not yet been disclosed. Biro Edwin Bischof AG, headquartered in Switzerland, manufactures automotive parts such as noise-absorbing components and body structural reinforcements. In 2010, the company had annual sales of 35 million Swiss francs (about US$ 420,000).

According to Sika, in recent years, due to the economic crisis, the pressure on Biro Edwin Bischof AG has been increasing day by day, but this acquisition will “make Biro’s finances have a new beginning”. It is reported that Sika is a European supplier of construction, manufacturing and transportation. The company has annual sales of 4.4 billion Swiss francs (about 5.3 billion US dollars).