Sika to divest European industrial coatings business

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Sika has agreed to sell its European industrial coatings business, based in Germany, to The Sherwin-Williams Company, the US-based global supplier of paints and coatings. In 2020, the business segment generated sales of approximately Eur 69m. The transaction is expected to close in the beginning of 2022.

The transaction includes the European industrial coatings business with the main location and manufacturing facility in Vaihingen, Germany. The product range encompasses anticorrosive and fire protection coatings which are mainly sold in Germany, Switzerland, Poland, and Austria. The business offers a wide portfolio of innovative products and solutions primarily sold to specialised customer groups such as steel construction companies or anticorrosion experts which, according to Sika, provide little synergy potential on a group-wide level, so the business has remained a specialised niche within the Sika Group.

Ivo Schädler, Sika regional manager EMEA, said:It is of great importance for Sika to have found a good strategic owner for the European industrial coatings business that will continue to invest in the further development of its people and products. Customers can continue to rely on the availability of high-quality products and technical support in the future. Sherwin-Williams is a strong, growing company with the strategic focus on coatings and paints. Within this organization, the industrial coatings business along with its employees will be in an ideal position to develop and grow to their full potential.”