PUBLIC COMPANY; YEAR ESTABLISHED: 1866
REVENUE: $14.5 billion s (2019: $12.8 billion)
(Note: Sherwin-Williams reported total revenue of $18.36 billon for fiscal 2020. However, for purposes of this report, sales of painting tools and equipment are not reported as part of coatings revenue. The above is Coatings World’s estimate.)
Architectural coatings; Industrial coatings; Protective and marine coatings; OEM product finishes; Wood finishes; Aerospace coatings
John Morikis, chairman, CEO and president; Allen J. Mistysyn, senior VP – finance and CFO; Mary Garceau, senior VP, general counsel and secretary; Jane Cronin, corporate controller.
The Sherwin-Williams Company reported $18.3 billion in net sales for 2020. Minus the sale of painting tools and equipment, Coatings World estimates the company’s paint and coatings sales to be approximately $14.5 billion.
Sherwin-Williams manufactures products under well-known brands such as Sherwin-Williams, Valspar, Dutch Boy, HGTV HOME by Sherwin-Williams, Krylon, Minwax, Cabot, and Thompson’s Water Seal. With global headquarters in Cleveland, Sherwin-Williams branded products are sold primarily through more than 5,100 company-operated stores and facilities, while the company’s other brands are sold through leading mass merchandisers, home centers, independent paint dealers, hardware stores, automotive retailers and industrial distributors.
The company is comprised of three reportable segments. The Americas Group comprises 57 percent of total sales and operates the exclusive outlets for Sherwin-Williams branded paints, stains, supplies, equipment and floor covering in the U.S., Canada and the Caribbean. The Americas Group also manufactures and sells a wide range of architectural paint, industrial coatings and related products across Latin America through company-operated stores and dedicated dealers. Consumer Brands Group comprises 15 percent of total sales and sells one of the industry’s most recognized portfolios of branded and private-label products through retailers across North America and in parts of Europe, Australia, New Zealand and China, and also operates a global supply chain for paint, coatings and related products. The Performance Coatings Group (28 percent of total sales) sells a wide range of industrial coatings and finishes to general industrial, industrial wood, protective and marine, coil & extrusion, packaging and automotive customers in 120+ countries.
The Sherwin-Williams Company announced that David B. Sewell, president and COO, resigned effective March 12, 2021, to become CEO of another company outside of the coatings industry.
"We thank David for his many contributions to Sherwin-Williams over his 14 years with the company, and we wish him much success in his future endeavors," said Sherwin-Williams chairman and CEO John G. Morikis. "Our deep and experienced global team continues to move forward with great momentum, focused on delivering solutions to our customers and executing on initiatives that will drive sustained long-term success."
Sewell's COO role will not be filled immediately.
Morikis will serve as president in addition to his current role and assume Sewell's primary duties and responsibilities.
Tennant Company completed the sale of its coatings business, Tennant Coatings, to The Sherwin-Williams Company.
“The sale of Tennant's coatings business is our latest move in the ongoing implementation of our enterprise strategy — specifically, winning where we have a competitive advantage,” Tennant CEO Chris Killingstad said. “By divesting a business that is not central to our core strengths in industrial and commercial floor cleaning, we can redirect resources toward more strategic and profitable activities.”
Tennant Coatings designs and manufactures indoor and outdoor coatings systems for a variety of applications and industries. For the previous 12 months ended Sept. 30, 2020, the coatings business generated $22.1 million in sales or 2.2% of Tennant Company’s total sales. Following the sale, approximately 70 Tennant employees are expected to join The Sherwin-Williams Company.
Founded in 1870, Tennant Company (TNC), headquartered in Minneapolis, Minnesota, is a leader in designing, manufacturing and marketing solutions that allow customers to achieve quality cleaning performance, reduce their environmental impact and help create a cleaner, safer, healthier world.
Tennant Company had sales of $1.14 billion in 2019 and has approximately 4,300 employees.
HGTV Home by Sherwin-Williams introduced its new interior paint and primer, Ovation Plus.
According to the company, Ovation Plus provides beautiful coverage with a lasting finish, along with zero VOCs, according to HGTV Home by Sherwin-Williams.
The new paint and primer is offered exclusively at Lowe's stores nationwide and online at Lowes.com.
"We want to help people take charge of their spaces in 2021 by introducing a new product that allows them to experience one of our high-end brands at a new introductory price," said Krystal Mindeck, HGTV Home by Sherwin-Williams senior product manager.