The Sherwin-Williams Company announced it has signed an agreement to acquire the European industrial coatings business of Sika AG. The transaction is expected to close in the beginning of 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 for high value interior and exterior steel infrastructure, bridges, airport and rail, wind and energy, chemicals, power transmission and stations, interior linings for oil and gas tanks, vessels, and pipework, and water and wastewater applications, along with fire protection coating systems to protect and preserve steel, wood and concrete building components.
Sales of the business were approximately €70 million for the year ended December 2020. The acquired business will become part of the company’s Performance Coatings Group operating segment and approximately 130 Sika employees are expected to join Sherwin-Williams.
[column width=”50″ first=”true”] Sales of the business were approximately €70 million for the year ended December 2020. The acquired business will become part of the company’s Performance Coatings Group operating segment and approximately 130 Sika employees are expected to join Sherwin-Williams. [/column] [column width=”50″ last=”true”] [/column]