Sherwin-Williams buys European coatings business, adding more manufacturing capability

CLEVELAND, Ohio — Sherwin-Williams finished its obtain of a European corporation, introducing producing and much more merchandise to its footprint.

The enterprise introduced lately that it finished its acquisitions of Sika AG, an industrial coatings organization headquartered in Switzerland with revenue in Poland, Austria and Germany. It 1st declared its plans for the invest in in August 2021.

Around 115 Sika workers will be part of Sherwin-Williams, in accordance to a new release. Sika AG would make and sells corrosion defense coatings programs for metal infrastructure utilised on bridges, in airports and railroads, power transmissions on lots of other industries. It also will make fire protection coatings.

Sika AG had the equivalent of about $82 million in profits in 2020.

“This business delivers us one of a kind technology and more production and services abilities in line with our method of obtaining complementary, significant-top quality, differentiated enterprises that assist our advancement and profitability targets,” reported Sherwin-Williams Chairman and Chief Executive Officer, John G. Morikis in a news launch.

Sherwin-Williams, headquartered in Cleveland, is a world-wide paint and coatings business enterprise that owns brand names like Valspar, Minwax and Krylon together with its own Sherwin-Williams paint. It employs about 60,000 folks and has gross sales in 120 nations around the world all around the world.