CLEVELAND, March 31 /PRNewswire-FirstCall/ -- The
Sherwin-Williams Company (NYSE: SHW) announced it has closed a
definitive agreement to acquire the Industrial Wood Coatings
business of Arch Chemicals, Inc. (NYSE: ARJ).
Headquartered in Pianoro, Italy, Arch Industrial Wood Coatings trades
under the Sayerlack brand name and is a leading coatings innovator
in the Joinery, Furniture, and Cabinets markets. Net sales in 2009
were $147 million.
Founded in 1954, Sayerlack is one of the largest manufacturers
of industrial wood coatings in Europe and a technology leader in
polyurethane, water, and UV coatings.
Sayerlack operates several manufacturing sites across
Western Europe along with a
comprehensive network of sales, technical, and distributor
representatives serving clients in Asia and the U.S.
Christopher M. Connor, Chairman
and CEO of The Sherwin-Williams Company said, "We are pleased to
bring Sayerlack, a well respected company and its talented people,
into the Sherwin-Williams family. This acquisition reaffirms our
commitment to growing globally through organic expansion,
accelerated by appropriate acquisitions."
George E. Heath, President of
Sherwin-Williams Global Finishes Group, stated, "The acquisition of
Sayerlack is a logical step in our efforts to strengthen our
growing global platform to better serve our product finishes
customers around the world with outstanding R&D, products, and
people."
Sayerlack joins S-W's growing Global Chemical Coatings Division
following the acquisitions of Inchem and Becker Powder Coatings
U.S. in 2008.
Graham Buchan, General Manager of
the Sayerlack business said, "We are excited to join the
Sherwin-Williams family and to contribute to the company's success
across the globe. We have been an admirer of Sherwin-Williams for
years, and are delighted to partner with them for the future."
Sherwin-Williams Chemical Coatings Division
The Sherwin-Williams Chemical Coatings Division, part of the
company's Global Finishes Group, is a leading manufacturer of
advanced technology liquid and powder coating systems for the world
OEM market through 13 manufacturing and 79 facility locations
across the U.S., Canada,
Mexico, Europe and China. For more information, visit
www.sherwin.com/oem.
Sherwin-Williams Company
Founded in 1866, The Sherwin-Williams Company is a global leader
in the manufacture, development, distribution, and sale of coatings
and related products to professional, industrial, commercial, and
retail customers.
The company manufactures products under well-known brands such
as Sherwin-Williams®, Dutch Boy®, Krylon®, Minwax®, Thompson's® WaterSeal® and many more.
With global headquarters in Cleveland,
Ohio, Sherwin-Williams® branded products are sold
exclusively through a chain of more than 3,500 company-operated
stores and facilities, while the company's other brands are sold
through leading mass merchandisers, home centers, independent paint
dealers, hardware stores, automotive retailers, and industrial
distributors.
The Sherwin-Williams Global Finishes Group distributes a wide
range of products in more than 70 countries around the world. For
more information, visit www.sherwin.com.
The Sherwin-Williams Company: M&A
3. 31.10 Sayerlack Italy Industrial Coatings
2.2.09 Altax Poland Protective
Coatings
12.12.08 Euronavy Portugal
Protective Coatings
7.31.08 Inchem Holdings
Singapore Industrial Coatings
2.18.08 Becker Powder Coatings
US Columbus Industrial Coatings
12.29.07 Flex Mexico Automotive
Coatings
9.27.07 Columbia Spokane 41
Paint Stores
9.21.07 VHT Paint Line
Scottsdale Aerosol Coatings
8.3.07 NAPKO Mexico Protective
Coatings
6.28.07 Pinturas Industriales
Uruguay Architectural Coatings
6.1.07 M.A. Bruder Philadelphia
132 Paint Stores
4.26.07 Altair Nano Nevada Ti02
Joint Venture
4.4.07 NITCO India
Architectural Coatings
Contact:
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Mike
Conway
Director Corporate
Communications and Investor Relations
Sherwin-Williams
Direct:
216.515.4393
Pager:
216.422.3751
mike.conway@sherwin.com
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SOURCE The Sherwin-Williams Company