Sika sales up 30%, but below forecast

Sika Romania, local subsidiary of Swiss group Sika, will post turnover worth around 24m euros this year, up 30% against last year, below the 40% beginning-of-the-year forecast, amid a reduction in demand for construction materials. For next year, the company forecasts a 20% turnover increase, to 29m euros, amid a slower growth of the constructions market and a deepening of the effects of the international crisis. "Next year we will see growth, but not at the same rate as in 2008, due to the investments we have made in infrastructure and in human resources, with our expected turnover rise amounting to 20%. Anyway, we provided for a slower growth, so no significant budget adjustment has been necessary," said Ileana Nicolae, general manager of Sika Romania.