Sherwin-Williams Closes on the Acquisition of Sayerlack Industrial Wood Coatings

CLEVELAND, March 31 /PRNewswire-FirstCall/ -- The Sherwin-Williams Company (NYSE: SHW) announced it has closed a definitive agreement to acquire the Industrial Wood Coatings business of Arch Chemicals, Inc. (NYSE: ARJ).

Headquartered in Pianoro, Italy, Arch Industrial Wood Coatings trades under the Sayerlack brand name and is a leading coatings innovator in the Joinery, Furniture, and Cabinets markets. Net sales in 2009 were $147 million.

Founded in 1954, Sayerlack is one of the largest manufacturers of industrial wood coatings in Europe and a technology leader in polyurethane, water, and UV coatings.

Sayerlack operates several manufacturing sites across Western Europe along with a comprehensive network of sales, technical, and distributor representatives serving clients in Asia and the U.S.

Christopher M. Connor, Chairman and CEO of The Sherwin-Williams Company said, "We are pleased to bring Sayerlack, a well respected company and its talented people, into the Sherwin-Williams family. This acquisition reaffirms our commitment to growing globally through organic expansion, accelerated by appropriate acquisitions."

George E. Heath, President of Sherwin-Williams Global Finishes Group, stated, "The acquisition of Sayerlack is a logical step in our efforts to strengthen our growing global platform to better serve our product finishes customers around the world with outstanding R&D, products, and people."

Sayerlack joins S-W's growing Global Chemical Coatings Division following the acquisitions of Inchem and Becker Powder Coatings U.S. in 2008.

Graham Buchan, General Manager of the Sayerlack business said, "We are excited to join the Sherwin-Williams family and to contribute to the company's success across the globe. We have been an admirer of Sherwin-Williams for years, and are delighted to partner with them for the future."

Sherwin-Williams Chemical Coatings Division

The Sherwin-Williams Chemical Coatings Division, part of the company's Global Finishes Group, is a leading manufacturer of advanced technology liquid and powder coating systems for the world OEM market through 13 manufacturing and 79 facility locations across the U.S., Canada, Mexico, Europe and China. For more information, visit www.sherwin.com/oem.

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®, Thompson's® WaterSeal® and many more.

With global headquarters in Cleveland, Ohio, Sherwin-Williams® branded products are sold exclusively through a chain of more than 3,500 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, visit www.sherwin.com.

The Sherwin-Williams Company: M&A

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

4.26.07 Altair Nano Nevada Ti02 Joint Venture

4.4.07 NITCO India Architectural Coatings

SOURCE The Sherwin-Williams Company