Sherwin-Williams closes Inchem coatings deal

31 July 2008 14:18  [Source: ICIS news]

LONDON (ICIS news)--Sherwin-Williams has closed a definitive agreement to acquire Inchem’s liquid coatings subsidiaries, the company said on Thursday.

No financial details were disclosed.

Headquartered in Singapore, Inchem produces coatings applied to wood and plastic products in Asia.

The coatings are made and sold in China, Vietnam and Malaysia, and distributed to 15 other Asian countries, Sherwin-Williams said.

Inchem has more than 400 employees across its four manufacturing plants and sales of approximately $30m (€19m).

"We are pleased to bring Inchem, a well respected company throughout Asia, its plants in China, Vietnam, and Malaysia, and most importantly its people into the Sherwin-Williams family,” said Christopher M Connor, chairman and CEO of Sherwin-Williams.

“This acquisition reaffirms our commitment to growing globally through organic expansion, accelerated by strategically important acquisitions," he added.

($1 = €0.64)

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By: Hilde Ovrebekk
+44 20 8652 3214

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