Sika is expanding its cooperation with CiDRA Concrete Sysmtes Inc., headquartered in Eden Prairie, Minnesota, and has completed a growth equity investment agreement to supplement its existing global relationship. CiDRA specializes in IoT-based digital systems to monitor concrete properties during transport. Sika and CiDRA already offer this service to customers in the US and Canada - now concrete producers in other countries will follow.
CiDRA Concrete Systems is a market leader in digital monitoring and information systems for concrete loads in trucks. High-precision on-board systems measure the quality of the concrete during its transport from the batching plants to the job sites. Currently customers in the US and Canada benefit from this offering through a data subscription service, enabling concrete producers to access real-time concrete quality data such as workability and air content through a cloud-based data portal for every truck operating in their fleet.
Sika and CiDRA forged a partnership around the launch of this data service in early 2019. The partnership will now be expanded to other countries so that concrete producers outside of the US and Canada will also have access to this service.
"We are very excited to further strengthen our partnership with CiDRA Concrete Systems. this IoT-based technology allows Sika to bring new digital solutions to our customers in the concrete industry. The optimization of the concrete mix design - incorporating innovative, in-transit digital monitoring technologies, in combination with our chemical admixtures - enable our customers to further improve the performance of their concrete and their profitability by reducing the number of rejected truck loads." Philippe Jost, Head Construction Sika
"Our partnership with Sika has developed very well and has effectively proven our business model and the value we bring to customers in the US and Canada. We are looking forward to expanding this offering internationally and effectively leverage the market-leading presence of Sika. " Scott Anderson, President of CiDRA Concrete Systems
"Sika is an extremely well-managed global market leader in construction chemicals and we value the support that the senior management has demonstrated as we have built a strong partnership foundation over the last 20 months. The equity investment is just another example of Sika's commitment to this partnership and we are very excited about the opportunities it provides for both partners. " Kevin Didden, CEO of CiDRA Concrete Systems