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8-K - FORM 8-K - SHERWIN WILLIAMS CO | l40615e8vk.htm |
EXHIBIT 99
NEWS:
Cleveland, Ohio 44115 (216) 566-2140
Sherwin-Williams Completes the Acquisition of Becker Acroma Industrial Wood Coatings
Leading Global Industrial Wood Coatings Innovator Joins S-Ws Growing
Global Finishes Group
Leading Global Industrial Wood Coatings Innovator Joins S-Ws Growing
Global Finishes Group
CLEVELAND, OHIO, September 1, 2010 The Sherwin-Williams Company (NYSE:SHW) announced it has
closed a definitive agreement to acquire Becker Industrial Products AB, a subsidiary of AB Wilh.
Becker based in Sweden, which engages in the industrial wood coatings business.
Headquartered in Stockholm, Sweden, Becker Acroma is one of the largest manufacturers of industrial
wood coatings globally and a technology leader in water, UV, and other wood coatings. Becker
Acroma wood coatings serve the joinery, kitchen cabinet, furniture, and flooring markets directly
and through distributors. The Company has an outstanding reputation for innovative technology and
quality products.
Becker Acroma has more than 900 employees and currently operates 9 manufacturing facilities, 19
mixing sites and 13 technical centers around the world. (Sweden, Italy, Germany, France, UK,
Ireland, Belgium, Norway, Finland, Denmark, Czech Republic, Poland, Romania, Russia, Lithuania,
Belarus, China, Vietnam, Thailand, Canada, U.S.) Sales in 2009 were approximately SEK 2.125
billion (US$300 million).
Christopher M. Connor, Chairman and CEO of The Sherwin-Williams Company, said We are pleased to
bring Becker Acroma, a well-respected company, and their employees into the Sherwin-Williams
family. This is another positive step in our strategy of steady growth and expansion through
quality products and people who provide excellent customer service. This acquisition reaffirms our
commitment to growing globally through organic expansion, accelerated by appropriate acquisitions.
Jenny Lindén Urnes, owner and chairman of AB Wilh. Becker, commented, Becker Acroma and its
committed employees around the world have been a very much appreciated part of Beckers, and I wish
them the best of luck in the future. We know Sherwin-Williams well, and I am confident that
joining the Sherwin-Williams family will be good for Becker Acromas employees, customers, and
other stakeholders.
George E. Heath, President of Sherwin-Williams Global Finishes Group, stated, The acquisition of
Becker Acroma is another important step in our efforts to strengthen our growing global platform to
better serve our customers around the world with outstanding assets, technology, and people.
Sherwin-Williams acquired Becker Acroma for SEK 1.7 billion (US$227 million). It will be part of
the Companys growing Global Finishes Group following the acquisitions of Sayerlack (2010), Inchem
(2008) and Becker Powder Coatings U.S. (2008)
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Kaj Brandt, CEO of Becker Acroma Industrial Wood Coatings said, We are excited to join the
Sherwin-Williams family and to contribute to the companys success across the globe. We have
respected Sherwin-Williams for years, and are delighted to now be a partner.
Sherwin-Williams Global Finishes Group
The Sherwin-Williams Global Finishes Group is a leading supplier of advanced technology liquid and
powder product finishes for the world OEM market through 15 manufacturing and 79 facility locations
across the U.S., Canada, Mexico, Europe and China. For more information, visit www.sherwin.com/oem.
The 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®,Thompsons® WaterSeal® and many more.
With global headquarters in Cleveland, Ohio, Sherwin-Williams® branded products are sold
exclusively through a chain of 3,354 company-operated stores and facilities, while the companys
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
9.1.10
|
Becker Acroma | Sweden | Industrial Coatings | |||
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 |
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6.28.07
|
Pinturas Industriales | Uruguay | Architectural Coatings | |||
6.1.07
|
M.A. Bruder | Philadelphia | 132 Paint Stores | |||
4.4.07
|
NITCO | India | Architectural Coatings |
Contacts:
Bob Wells
Senior Vice President, Corporate Communications and Public Affairs
Sherwin-Williams
Direct: 216.566.2244
rjwells@sherwin.com
Senior Vice President, Corporate Communications and Public Affairs
Sherwin-Williams
Direct: 216.566.2244
rjwells@sherwin.com
Mike Conway
Director, Corporate Communications and Investor Relations
Sherwin-Williams
Direct: 216.515.4393
Pager: 216.422.3751
mike.conway@sherwin.com
Director, Corporate Communications and Investor Relations
Sherwin-Williams
Direct: 216.515.4393
Pager: 216.422.3751
mike.conway@sherwin.com
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