YEAR ESTABLISHED: 1866
REVENUE: $6.370 billion t (2013: $9.34 billion)
(Note: Sherwin-Williams reported total revenue of $11,129,533 billon for fiscal 2014. 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.)
• Architectural coatings • Industrial coatings • Protective and marine coatings • OEM product finishes • Wood finishes • Aerospace coatings
Christopher Connor, chairman and CEO; John Morikis, president and COO; Sean Hennessy, senior VP, finance and CFO.
The Sherwin-Williams Company reported sales of $11.12 billion in net sales for 2014. 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 $6.370 billion.
Its Paints Stores Group represents 61.6 percent of total sales and includes Sherwin-Williams branded paints and stains. Major brands include Sherwin-Williams, MAB, ProMar and SuperPaint. The Consumer Group comprises 12.8 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 18.7 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 6.9 percent of total sales. It manufactures a wide range of architectural paints and industrial coatings throughout Latin America.
Paint Store Group
• Sherwin-Williams opened 95 net new locations and reached 4,003 stores in the U.S., Canada and the Caribbean.
• Introduced nine new products, including Painters Edge Interior Latex and Loxon XP IR Reflective Coating.
• Launched Paint Perks, an online and in-store preferred customer program.
• Sherwin-Williams ranked “Highest in Customer Satisfaction with Paint Retailers, Two Years in a Row” by J.D. Power in 2014.
• Formed a partnership with HGTV and Lowe’s to begin selling HGTV HOME by Sherwin-Williams interior and exterior paint in Lowe’s stores in 2015.
• Successfully integrated the Comex manufacturing and distribution facilities in North America.
• Duckback Deck and Dock Coating was successfully launched in more than 3,000 U.S. and Canadian stores.
• Introduced new products or enhancements to Krylon, Thompson’s WaterSean, Ronseal, Minwax, Purdy Power Lock and Dutch Boy brands.
Global Finishes Group
• Global Finishes expanded its international reach and capabilities – spanning five continents and nearly 100 countries, with 300 facilities worldwide.
• The Group continued to drive innovation by opening a new product finishes lab in Wuppertal, Germany, and a new Commercial Applications Center for automotive finishes in Ohio.
• Two new powder coating lines were launched – Powdura Sprint and Powdura OneCure – expanding its OEM product platform.
• Introduced the full-featured Formula Express 2.0, a next generation global online color formula retrieval system for automotive finishes.
• Sherwin-Williams received the Military Coatings Excellence Award for its work on the USS Ronald Reagan.
Latin America Coatings Group
• Latin America Coatings expanded its Dedicated Dealer program with 72 new stores, for a total of 646 dealer stores in the region.
• Launched new SeaVoyage and SeaGuard marine coatings lines in Brazil, Mexico and Chile, and new Polane Product Finishes in Brazil and Argentina.
• Launched several flagship brands with new technology that improved product performance.
• Latin America Coatings Group and Paints Stores Group completed an organizational realignment to put both groups under a unified management team, which will enable them to share expertise and resources between the two business units.