TAGS: Wood Coatings
The Sherwin-Williams Company announces an agreement to acquire Industria Chimica Adriatica S.p.A. (ICA).
Expansion to Innovative Coatings Technology
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This wonderful company brings us innovative waterborne and solvent liquid coatings technology, including an award-winning range of ultra-matt protective coatings and a growing portfolio of BIO water-based coatings products, which are made with recycled raw materials," said Sherwin-Williams chairman and chief executive officer, John G. Morikis.
The acquired business has annual sales of more than €150 million, with sales and operations globally, including production facilities in Italy and Poland, and ICA's interest in the India-based joint venture, ICA Pidilite.
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In addition to this strong technical expertise, ICA has excellent relationships with multi-national and local customers, multiple product specification and approval positions, strategically located manufacturing and distribution, and an outstanding commercial team focused on delivering innovative and value-added solutions,” explained Morikis.
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The combination of our businesses provides numerous opportunities to accelerate profitable growth in the region and beyond," added Morikis.
Source: The Sherwin-Williams Company