Arch Completes Industrial Coatings Divestiture to Sherwin-Williams
May 1, 2010
Arch Chemicals, Inc. reported completion of the previously announced divestiture of its industrial coatings business to The Sherwin-Williams Company for approximately €40 million ($54 million). With operations located in Italy, UK, France, Spain, North America and Singapore, the industrial coatings business manufactures and supplies a wide range of industrial coatings used for surface protection and decorative finishes in furniture and joinery applications. The industrial coatings business had sales of $147.1 million in 2009 and an operating loss of approximately $2 million.
The introduction of Point-of-Sale Tinting systems in the 1950s changed forever the way that decorative paints are sold. Prior to World War II and during the immediate post-war period, paints were supplied in a limited range of colors and retailers ha…