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The acquired business will be integrated into the Performance Coatings Group operating unit of the company. Sherwin-Williams is likely to hire about 130 Sika staff.
FREMONT, CA: The Sherwin-Williams Company, a global leader in producing, researching, distributing, and selling paint, coatings, and associated products to professional, industrial, commercial, and retail consumers, recently announced that it has signed an agreement to acquire Sika AG's European industrial coatings business. The purchase is expected to finalize in early 2022.
Based in Germany with additional sales and technical support in Poland, Austria, and Switzerland, Sika's European industrial coating business engineers, manufactures and sells corrosion protection coating systems. The coating system is extended to high-value interior and exterior steel infrastructure, bridges, wind and energy, chemicals, airport and rail, interior linings for oil and gas tanks, power transmission and stations, vessels, and pipework, and water and wastewater applications, along with fire protection coating systems to protect and preserve steel, wood and concrete building components.
For the fiscal year ending December 31, 2020, the company's sales were at CHF 75 million (82 million dollars). The acquired business will be integrated into the Performance Coatings Group operating unit of the company. Sherwin-Williams is likely to hire about 130 Sika staff.
The Sherwin-Williams Performance Coatings Group serves more than 120 countries with a diverse spectrum of highly developed solutions for construction, industrial, packaging, and transportation applications.