Sherwin-Williams Takes on European Industrial Coatings Business

Paints and coatings manufacturer Sherwin-Williams recently completed a deal to acquire Sika AG’s European Industrial Coatings business. The business will now be operated under the company’s Performance Coatings Group segment.

“This business brings us unique technology and additional manufacturing and service capabilities in line with our strategy of acquiring complementary, high-quality, differentiated businesses that support our growth,” John G. Morikis, chairman and CEO of Sherwin-Williams, said in a release. “The combination of customer focus, talented employees, and similar cultures creates exciting prospects for continued growth and success throughout Europe and other regions across the world.”

Sika’s business produces corrosion protection systems for high value interior and exterior steel infrastructure, bridges, airports and rail, wind and energy, chemicals, power transmission, interior linings for oil and gas tanks, vessels, pipework, and water and wastewater applications. The products are also used as fire protection coating systems.

The business generated $82 million in sales for the year ending Dec. 31, 2020.

Plans for the transaction were first announced in August 2021, Powder & Bulk Solids reported. Earlier this year, Sherwin-Williams said it intends to invest $324 million to boost the capacity and distribution capabilities of its Statesville, NC plant