Sika seeks opportunities as COVID-19 raises inventory risks — Panjiva
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Sika seeks opportunities as COVID-19 raises inventory risks

Coronavirus 511 Materials - Chemicals 207 U.S. 5260

Specialty chemical firm Sika reported a decline in revenues on an organic basis in Q1 “due to the coronavirus” according to CEO Paul Schuler. In terms of U.S. sales decline “was seen towards the end of March” though there are “opportunities in this challenging environment”. U.S. seaborne imports linked to the firm surged 21.4% higher year over year in Q1, raising the risk of a rapid inventory build up as sales slow. Other specialty chemical importers have not seen such a surge in shipments. Total imports of a variety of specialty chemicals fell by 1.0% year over year in Q1, while those l...

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