Sika to spin off European industrial coatings business to Sherwin-Williams

Sika has agreed to sell its European industrial coatings business in Germany to Sherwin-Williams, a leading global paint and coatings company in the United States
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In 2020, the business unit had sales of approximately CHF 75 million ($70 million)
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The transaction is expected to close in early 2022
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Sika has made a strategic decision to divest its European industrial coatings business
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The business offers a broad portfolio of innovative products and solutions sold primarily to specialized customer groups such as steel construction companies or corrosion protection specialists
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These customer segments offer little synergy potential at the group-wide level, and the business has always been a small and dedicated division within the Sika Group
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The transaction includes the European Industrial Coatings business, with its principal location and production facility in Vaihingen, Germany
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The product range includes anti-corrosion and fire-retardant coatings, mainly sold in Germany, Switzerland, Poland and Austria
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Sika believes that through its partnership with Sherwin-Williams, Sika has found the right long-term owner for the European Industrial Coatings business
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Industrial coatings is a core competency of Sika and the acquired business is an important strategic opportunity to drive growth and support the expansion of its position in the European market
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Ivo Schädler, Regional Manager EMEA, said: "It was very important for Sika to find a good strategic owner for the European Industrial Coatings business, which will continue to invest in the further development of its people and products
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Customers in the future Can continue to rely on high-quality products and technical support
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Sherwin-Williams is a strong, growing company with a strategic focus on coatings and paints
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Within this organization, the Industrial Coatings business, along with its employees, will be in an ideal position, to develop and grow to its full potential
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”