Sherwin-Williams Completes the Acquisition of Becker Acroma Industrial Wood CoatingsBy Sherwin-williams Company, PRNE
Tuesday, August 31, 2010
Leading Global Industrial Wood Coatings Innovator Joins S-W's Growing Global Finishes Group
CLEVELAND, 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
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
Jenny Linden 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 Acroma's 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."
Becker Acroma will be part of the Company's growing Global Finishes Group
following the acquisitions of Sayerlack (2010), Inchem (2008) and Becker
Powder Coatings U.S. (2008).
Kaj Brandt, CEO of Becker Acroma Industrial Wood Coatings said, "We are
excited to join the Sherwin-Williams family and to contribute to the
company's 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
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(R), Dutch Boy(R), Krylon(R), Minwax(R), Thompson's(R)
WaterSeal(R) and many more.
With global headquarters in Cleveland, Ohio, Sherwin-Williams(R) branded
products are sold exclusively through a chain of 3,354 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,
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 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: Robert Wells Senior Vice President, Corporate Communications and Public Affairs Sherwin-Williams Direct: +1-216-566-2244 firstname.lastname@example.org Mike Conway Director, Corporate Communications and Investor Relations Sherwin-Williams Direct: +1-216-515-4393 Pager: +1-216-422-3751 email@example.com
Robert Wells, Senior Vice President, Corporate Communications and Public Affairs, +1-216-566-2244, rjwells at sherwin.com, Mike Conway, Director, Corporate Communications and Investor Relations, +1-216-515-4393, Pager: +1-216-422-3751, mike.conway at sherwin.com, both of Sherwin-Williams
Tags: Cleveland, Ohio, September 1, Sherwin-williams Company, sweden