CLEVELAND, Feb. 6 /PRNewswire-FirstCall/ -- The Sherwin-Williams Company (NYSE: SHW) announced it has closed a definitive agreement to acquire Altax Sp. zo.o. Headquartered in Poznan, Poland, Altax is a leading innovator of protective woodcare coatings and serves multiple channels including Industrial, Professional and DIY. Altax will join S-W's growing Ronseal coatings business unit based in the U.K.
Founded in 1988, Altax has 70 employees across two manufacturing and distribution platforms whose products are currently sold throughout central Europe.
Christopher M. Connor, Chairman and CEO of The Sherwin-Williams Company said, "We are pleased to bring Altax, 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."
Paul Barrow, Managing Director of the Sherwin-Williams Ronseal division stated, "The acquisition of Altax is a logical step in our efforts to strengthen our growing global platform to better serve customer needs around the world with outstanding R&D, products, and people."
Altax Managing Director Maciej Wichniarek said, "We are excited to join the Sherwin-Williams Ronseal family and to contribute to the company's success across the globe. We have been an admirer of Sherwin-Williams for years, and now we are a partner."
Sherwin-Williams Ronseal Division
The Sherwin-Williams UK based Ronseal business unit, part of the company's Consumer Group, is a leading manufacturer of high quality performance Woodcare, Paint and Waterproofing products in the Professional and DIY sectors. Ronseal, with brand history of more than 80 years, joined Sherwin-Williams in 1998.
Ronseal's marketing slogan - 'Ronseal - Does exactly what it says on the tin', was recently voted the third most quoted advertising line in the UK. Ronseal's woodcare includes market leading varnishes, wood stains, decking, garden and furniture care products. Performance paints include floor, tile and radiator coatings. Ronseal's other key brand, Thompson's, has market-leading presence in waterseal, roofseal and dampseal categories. Find out more about Ronseal and Thompson's brands at - www.ronseal.co.uk
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(R), Dutch Boy(R), Krylon(R), Minwax(R), Thompson's(R) Water Seal(R), and many more.
With global headquarters in Cleveland, Ohio, Sherwin-Williams(R) branded products are sold exclusively through a chain of more than 3,000 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 Group distributes a wide range of products in more than 30 countries around the world. For more information, visit www.sherwin.com
The Sherwin-Williams Company: M&A
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
Contacts:
Robert Wells
Vice President Corporate Communications and Public Affairs
Sherwin-Williams
Direct: 216.566.2244
rjwells@sherwin.com
Mike Conway
Director Corporate Communications and Investor Relations
Sherwin-Williams
Direct: 216.515.4393
Pager: 216.422.3751
mike.conway@sherwin.com
