07.13.11
04 The Sherwin-Williams Company
Cleveland, Ohio/USA
www.sherwin-williams.com
KEY EXECUTIVES
Cleveland, Ohio/USA
www.sherwin-williams.com
PUBLIC COMPANY
YEAR ESTABLISHED: 1866
REVENUE: $6.5 billion (2009: 5.8)
(Note: Sherwin-Williams reported total revenue of $7.8 billion for fiscal 2010. 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.)
MARKETS SERVED
• Architectural coatings • Industrial coatings • Protective and marine • OEM product finishes
• Wood finishes • Aerospace coatings
• Wood finishes • Aerospace coatings
KEY EXECUTIVES
Christopher Connor, chairman and CEO; John Morikis, president and COO; Sean Hennessy, senior VP, finance and CFO.
Sales in the Consumer Group were $1.3 billion, or 17 percent of total company sales. Brands include Dutch Boy, Krylon, Minwax, Thompson’s WaterSeal, Pratt & Lambert and Purdy, which serve DIYers, professional painting contractors, and industrial maintenance and flooring contractors.
Lastly, the Global Finishes Group finished 2010 with $2.09 billion worth of sales, or 27 percent of total sales. Global brands include Sherwin-Williams, Napko, Planet Color, AWX, Martin Senour, Powdura, Polane, Euronavy, Inchem, Sumare, Sayerlack and Becker Acroma. These brands serve a wide range of end markets some of which include OEMs and product manufacturing, wood and composite building products, general industrial, military, electronics, industrial maintenance, protective and marine, automotive refinish and aerospace.
In 2010, the Sherwin-Williams Product Finishes Division acquired two leaders in industrial wood finishing—Becker Acroma and Sayerlack. With the acquisitions, Sherwin-Williams now has a service and distribution network to provide finishing solutions to OEMs that spans six continents, and is the largest provider of industrial wood finishes.
Sweden’s Becker Acroma, acquired in September 2010, is one of the largest manufacturers of industrial wood coatings globally and a technology leader in water, UV and other wood coatings. Their wood coatings serve the joinery, kitchen cabinet, furniture and flooring markets directly and through distributors. Becker Acroma has more than 900 employees and currently operates nine manufacturing facilities, 19 mixing sites and 13 technical centers around the world. Sales in 2009 were approximately $300 million.
Italian firm Sayerlack was acquired in March 2010. Founded in 1954, Sayerlack is one of the largest manufacturers of industrial wood coatings in Europe and a technology leader in polyurethane, water and UV coatings. Sayerlack operates several manufacturing sites across Western Europe along with a comprehensive network of sales, technical and distributor representatives serving clients in Asia and the U.S. Other smaller acquisitions in 2010 included Pinturas Color in Colombia and Fanapisa in Ecuador.
In terms of new product development Sherwin-Williams has recently introduced several innovations. The Product Finishes division has launched Sher-Wood F3 Kemvar, a formaldehyde hazard-free finish for wood finishers.
On the protective and marine coatings front, Shewin-Williams inctroduced a few new products. EnviroLastic AL is an aliphatic polyurea coating system suitable for interior and exterior walls and ceilings as well as exterior tanks and silos at manufacturing facilities, food and beverage plants or pharmaceutical clean rooms.
During 2010, Sherwin-Williams launched its ColorSnap App. With ColorSnap, customers don’t have to make multiple stops to the paint store to pick up swatches. With a photo on the iPhone, BlackBerry or Android, customers can tap the area with the color they’re seeking a match for, and the app will present coordinating swatches. ColorSnap was named to Ad Age's Top 10 Branded Apps.
The new feature allows consumers to use an iPhone, Blackberry or Android smart phone to capture a color that inspires them and match it to one of 1,500 Sherwin-Williams paint colors. They can create a custom palette, search for specific colors, browse the full Sherwin-Williams color palette or ask Sherwin-Williams for colors that complement a particular color.
The largest of Sherwin-Williams’ three business segments—the Paint Stores Group—recorded $4.38 billion of sales in 2010, representing 56 percent of total company sales. Group brands include Sherwin-Williams, Duration, SuperPaint, Harmony, ProMar and ProIndustrial, which serve DIYers, professional painting contractors, home builders, property managers, architects and interior designers, as well as industrial, marine, flooring and OEM product markets.
Sales in the Consumer Group were $1.3 billion, or 17 percent of total company sales. Brands include Dutch Boy, Krylon, Minwax, Thompson’s WaterSeal, Pratt & Lambert and Purdy, which serve DIYers, professional painting contractors, and industrial maintenance and flooring contractors.
Lastly, the Global Finishes Group finished 2010 with $2.09 billion worth of sales, or 27 percent of total sales. Global brands include Sherwin-Williams, Napko, Planet Color, AWX, Martin Senour, Powdura, Polane, Euronavy, Inchem, Sumare, Sayerlack and Becker Acroma. These brands serve a wide range of end markets some of which include OEMs and product manufacturing, wood and composite building products, general industrial, military, electronics, industrial maintenance, protective and marine, automotive refinish and aerospace.
In 2010, the Sherwin-Williams Product Finishes Division acquired two leaders in industrial wood finishing—Becker Acroma and Sayerlack. With the acquisitions, Sherwin-Williams now has a service and distribution network to provide finishing solutions to OEMs that spans six continents, and is the largest provider of industrial wood finishes.
Sweden’s Becker Acroma, acquired in September 2010, is one of the largest manufacturers of industrial wood coatings globally and a technology leader in water, UV and other wood coatings. Their wood coatings serve the joinery, kitchen cabinet, furniture and flooring markets directly and through distributors. Becker Acroma has more than 900 employees and currently operates nine manufacturing facilities, 19 mixing sites and 13 technical centers around the world. Sales in 2009 were approximately $300 million.
Italian firm Sayerlack was acquired in March 2010. Founded in 1954, Sayerlack is one of the largest manufacturers of industrial wood coatings in Europe and a technology leader in polyurethane, water and UV coatings. Sayerlack operates several manufacturing sites across Western Europe along with a comprehensive network of sales, technical and distributor representatives serving clients in Asia and the U.S. Other smaller acquisitions in 2010 included Pinturas Color in Colombia and Fanapisa in Ecuador.
In terms of new product development Sherwin-Williams has recently introduced several innovations. The Product Finishes division has launched Sher-Wood F3 Kemvar, a formaldehyde hazard-free finish for wood finishers.
On the protective and marine coatings front, Shewin-Williams inctroduced a few new products. EnviroLastic AL is an aliphatic polyurea coating system suitable for interior and exterior walls and ceilings as well as exterior tanks and silos at manufacturing facilities, food and beverage plants or pharmaceutical clean rooms.
During 2010, Sherwin-Williams launched its ColorSnap App. With ColorSnap, customers don’t have to make multiple stops to the paint store to pick up swatches. With a photo on the iPhone, BlackBerry or Android, customers can tap the area with the color they’re seeking a match for, and the app will present coordinating swatches. ColorSnap was named to Ad Age's Top 10 Branded Apps.
The new feature allows consumers to use an iPhone, Blackberry or Android smart phone to capture a color that inspires them and match it to one of 1,500 Sherwin-Williams paint colors. They can create a custom palette, search for specific colors, browse the full Sherwin-Williams color palette or ask Sherwin-Williams for colors that complement a particular color.
The app also allows lets users fine tune colors using lightness, saturation and hue features. After searching the color library, colors can be saved to the "My Saved Colors" library to compare palettes or share via Facebook and email. While using the app, consumers will also learn detailed color information, including color names, RGB values and LRV numbers.
