Sale expected to attract interest from other coatings companies along with private equity firms. BASF is reported to have started the process to sell its coatings business that could value the business unit at €6 billion ($6.8 billion) that produces automotive OEM and refinish coatings along with decorative paints. As CollisionWeek reported in February, BASF […]
BASF to Sell Brazilian Decorative Paints business to Sherwin-Williams for $1.15 Billion
Will explore strategic options for remaining coatings activities in second quarter including automotive OEM and refinish. BASF and Sherwin-Williams have signed an agreement on the sale of the Brazilian decorative paints business, which is part of BASF’s Coatings division. The purchase price on a cash and debt-free basis is $1.15 billion. The transaction is structured […]
Sherwin-Williams Company Reports Second Quarter Sales of $6.27 Billion
The Sherwin-Williams Company (NYSE: SHW) reported consolidated net sales increased 0.5% in the second quarter ended June 30 to $6.27 billion. Earnings before interest, taxes, depreciation and amortization (EBITDA) in the quarter increased 12.1% to $1.44 billion, or 22.9% of net sales. Net sales in Sherwin-Williams’ Performance Coatings Group (PCG) that includes automotive refinish increased […]
Sherwin-Williams Reports Net Sales Up 4.1% in 2023 to Record $23.05 Billion
The Sherwin-Williams Company (NYSE: SHW) announced consolidated net sales increased 4.1% for 2023 to a record $23.05 billion from $22.15 billion in 2022. Adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA) increased 17.5% in the year to $4.24 billion or 18.4% of net sales. “Sherwin-Williams delivered solid fourth quarter results, with positive sales […]
House of Kolor Introduces New Color Shifting Technology
House of Kolor has introduced new color-shifting technology that creates an instantaneous shift in color without a gray area or mottling in between colors. New Kameleon FX packs, which are part of the Shimrin2 paint system, contain pearls tightly controlled in thickness, creating uniquely clean effects when applied in layers over black paint. “Color-shifting paint […]
Sherwin-Williams Automotive Finishes Supports Blazing Trails Scholarship Fund
Sherwin-Williams Automotive Finishes and several well-known painters showed their support for young talent entering the collision repair industry by partnering with the Blazing Trails Scholarship Fund at the recent 2023 SEMA Show in Las Vegas, Nev. Renowned painters donated more than 30 custom art panels for an art sale Sherwin-Williams held at its House of […]
Heidi Petz Elected CEO at Sherwin-Willaims Effective January 1
The Sherwin-Williams Company (NYSE: SHW) announced that its Board of Directors has elected Heidi G. Petz to serve as the Company’s next Chief Executive Officer (CEO), effective January 1, 2024. Ms. Petz, 48, who has served as President and Chief Operating Officer of Sherwin-Williams for the last two years, will assume the CEO duties currently […]
AkzoNobel Completes Acquisition of Chinese Decorative Paints Business
AkzoNobel announced it has completed the acquisition of the Chinese Decorative Paints business of Sherwin-Williams that had been announced in April. The acquisition will further boost the company’s position in China and will allow the company further market segmentation and reinforce its position outside of the premium segment. The business has an annual revenue of […]
Sherwin-Williams Holds Topping-Off Ceremony at New Global R&D Center
The Sherwin-Williams Company (NYSE:SHW) along with the project’s construction workers celebrated a ‘topping-off’ on July 26 with the placement of the final steel beam for the Company’s new Global Research and Development Center located in Brecksville, Ohio. This milestone marks the completion of the construction project’s structural work, a project that began with a groundbreaking […]
Sherwin-Williams Reports Record $6.24 Billion Sales in Second Quarter
Automotive refinish sales up high-single digit percentage. The Sherwin-Williams Company (NYSE:SHW) announced consolidated net sales increased 6.3% in the second quarter to a record $6.24 billion. Net sales from stores in U.S. and Canada open more than twelve calendar months increased 9.5% in the quarter. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 31.4% […]
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