The Sherwin-Williams Company has closed a definitive agreement to acquire Euronavy-Tintas Maritimas e Industriais S.A. of Portugal. Headquartered in Lisbon, Portugal, Euronavy is involved in marine and protective coatings applied to ships, off shore platforms, storage tanks, steel, concrete and flooring. Euronavy became the first company in the world to receive approval for a solvent-free epoxy coating system. R&D projects have also produced products for underwater application. Founded in 1981, Euronavy has 40 employees across its manufacturing and distribution platform with sales of less than $25 million. Euronavy's coatings are sold in Brazil, Singapore, China, Vietnam, Dubai, Europe, Portugal, Canada and the U.S.
Sherwin-Williams completes the acquisition of Euronavy in Portugal
By Tim Wright
Published December 15, 2008
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