The Sherwin-Williams Company has signed a definitive agreement to acquire the Liquid Coatings subsidiaries of Inchem Holdings of Inchem Holdings International Limited.
Headquartered in Singapore, Inchem produces coatings applied to wood and plastic products in Asia. These waterborne, solvent-based and UV curable coatings are applied to furniture, cabinets, flooring and electronic products that are manufactured both for export as well as domestic sale. The coatings are made and sold in China, Vietnam and Malaysia, and distributed to 15 other countries throughout Asia.
Founded in 1992, Inchem has more than 400 employees across its four manufacturing plants and sales of approximately $30 million.
“This acquisition reaffirms our commitment to growing globally through organic growth accelerated by strategically important acquisitions,” said Christopher M. Connor, chairman and CEO of The Sherwin-Williams Company. “We are pleased to bring Inchem, a well respected company throughout Asia, it’s plants in China, Vietnam and Malaysia, and most importantly its people into the Sherwin-Williams family.”