The Sherwin-Williams Company reported sales of $9.53 billion in net sales. Minus the sale of painting tools and equipment in the company’s Paint Store Group, Coatings World estimates the company’s paint and coatings sales to be approximately $7.855 bn.
Its Paints Stores Group represents 56.7 percent of total sales and includes Sherwin-Williams branded paints and stains. Major brands include Sherwin-Williams, MAD, ProMar and SuperPaint. The Consumer Group comprises 13.9 percent of sales and sells branded, private label and licensed brand paints, stains, varnishes, industrial products, wood finishing products, aerosols, caulks and adhesives. Major brands include Dutch Boy, Krylon, Minwax, Thompson’s WaterSeal, Pratt and Lambert, Martin Senour, Ronseal and Duraseal. The company’s Global Finishes Group comprises 20.6 percent of total sales and manufactures and sells a wide range of OEM product finishes, protective and marine coatings and automotive finishes to a customer base in 120 countries. Key brands include Sherwin-Williams, Lazzuril, Excelo and Baco. The Latin America Coatings Group encompasses 8.8 percent of total sales. It manufactures a wide range of architectural paints and industrial coatings throughout Latin America.
The company’s Latin America Coatings Group was bolstered with the $2.34 billion acquisition of Mexico’s Comex (ranked 14 in last year’s report), which will strategically position the company throughout Latin America and strengthen its western U.S. and Canadian presence. The combined company will have $10 billion in sales, the company reported.
Founded in 1952, Comex is a privately held business with operations in Latin America, the U.S. and Canada. In 2011, Comex had total annual sales of $1.4 billion. The company manufactures and sells architectural and industrial coatings in Mexico through 3,300 points of sale operated by 750 concessionaires. In the U.S., Comex sells paint and coatings products under a variety of brand names through 240 company-operated paint stores. In Canada, the company markets multiple brands of paint and coatings through 78 company-operated paint stores and approximately 1,500 independent paint dealers.
Comex, like Sherwin-Williams, places heavy emphasis on supplying high-quality architectural paints and coatings. The company’s product assortment also includes various industrial, protective and specialty coatings. Comex operates eight manufacturing sites in Mexico, five in the U.S. and three in Canada and has more than 7,200 employees.
YEAR ESTABLISHED: 1866
REVENUE: $7.855 billion s (2011: 7.326 bn)
(Note: Sherwin-Williams reported total revenue of $9.53 billon for fiscal 2012. However, for purposes of this report, sales of painting tools and equipment in the Paint Stores Group are not reported as part of coatings revenue. The above is Coatings World’s estimate.)