MOSCOW (MRC) -- The Sherwin-Williams Company will acquire the European industrial coatings business of Sika AG, said Ccoatingsworld.
The acquired business will become part of the Sherwin-Williams Performance Coatings segment and that includes approximately 130 Sika employees. 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, the Sika 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. The business generated approximately CHF 75 million (USD82 million) in sales for the year ended Dec. 31, 2020.
"This transaction fits our strategy of acquiring complementary, high-quality, differentiated businesses that add to our profitable growth momentum,” said John G. Morikis, Sherwin-Williams chairman, president and chief executive officer. “The business brings us scale, unique technology, a strong sales and marketing team, technical service capabilities, strategically located manufacturing, and leading specification and approval positions, all of which we can leverage further throughout Europe and other regions across the world."
As per MRC, Swiss specialty and construction chemicals company Sika has acquired Shenzhen Landun Holding, a manufacturer of waterproofing systems in China, for an undisclosed sum. Shenzhen Landun has a range of waterproofing products and technologies that "perfectly" complement Sika’s portfolio. The acquisition provides a platform for Sika to further grow and strengthen its position in the fast-growing Chinese waterproofing market.
We remind that Russia's output of chemical products rose in June 2021 by 10.2% year on year. However, production of basic chemicals increased year on year by 8.2% in the first six months of 2021, according to Rosstat's data. June production of polymers in primary form was 937,000 tonnes versus 956,000 tonnes in May. Russia's overall output of polymers in primary form totalled 4,460,000 tonnes over the stated period, up by 12.8% year on year.
Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry. Sika has subsidiaries in 101 countries around the world and manufactures in over 200 factories. Its more than 20,000 employees generated annual sales of CHF 7.09 billion in 2018.
MRC