LYNDHURST, NJ – Sika AG has announced that its U.S. subsidiary, Sika Corp., has acquired the Greenstreak Group Inc., St. Louis, MO. The transaction closed on July 1, 2010.

Annual revenues for Greenstreak are approximately $30 million. Sika expects this acquisition will further strengthen its position in the North American construction industry, particularly in the area of engineered waterproofing.

Since 1950, Greenstreak has been manufacturing products for the construction industry, including engineered waterstops and joint seals, doweling systems, architectural form liners, pipeline protections, and a wide range of forming accessories.

Over the past 20 years, Greenstreak has achieved a leading position in waterstops and watertight-system solutions for concrete construction in North America. Its production facility in St. Louis brings strong manufacturing technology and expertise to Sika North America. Finally, Greenstreak also brings a well-known brand that is respected in the civil engineering and architectural communities.

Following the acquisition of the European-based Tricosal in 2008, Greenstreak now gives Sika ownership of three globally strong engineered waterstop brands: Sika, Tricosal and Greenstreak.

Upon completion of the transaction, Greenstreak will operate as a subsidiary of Sika Corp. and will be managed by the existing Greenstreak management team.