Sherwin-Williams

Sherwin-Williams Company
Public
Traded as
Industry General building materials
Founded Cleveland, Ohio, United States (1866 (1866))
Founders
Headquarters Cleveland, Ohio, U.S.
Number of locations
 4,339 stores (2011)
Area served
 Worldwide
Key people
Products
Brands
  • Easy Living (Sears and Kmart only)
  • Weatherbeater (Sears and Kmart only)
Revenue Increase US$ 10.185 Billion[1] (FY 2013)
Increase US$1.085 billion[1] (FY 2013)
Increase US$752.561 Million (FY 2013)[1] (FY 2013)
Total assets Increase US$6.382 billion[1] (FY 2013)
Total equity Decrease US$1.774 billion[1] (FY 2013)
Number of employees
 37,633[1] (Dec 2013)
Divisions
  • Retail Stores
  • Diversified Brands
  • Automotive Finishes
  • Chemical Coatings
Subsidiaries
  • Dutch Boy
  • Duron
  • MAB Paints
  • Minwax
  • Krylon
  • Purdy
  • Bestt Liebco
  • Thompson's
  • H&C
  • Pratt & Lambert
  • Martin-Senour
  • Columbia Paint & Coatings
  • Frazee Paint
Website sherwin-williams.com

The Sherwin-Williams Company is an American Fortune 500 company in the general building materials industry. The company, with headquarters in Cleveland, Ohio, primarily engages in the manufacture, distribution, and sale of paints, coatings and related products to professional, industrial, commercial, and retail customers primarily in North and South America and Europe. The company is mostly known through its Sherwin-Williams Paints line. On March 20, 2016, Sherwin-Williams announced the acquisition of Valspar for approximately $9 billion.[2]

History

Founded by Henry Sherwin and Edward Williams[3] in Cleveland in 1866, the company operates through four segments: Paint Stores Group (known as 'Sherwin-Williams Stores'), Consumer Group, Latin America Coatings Group, and Global Finishes Group.

Sherwin-Williams Paints

Americas Group, known as Sherwin-Williams Paints, was the first section of the company to be established, in 1866. These stores market and sell Sherwin-Williams branded architectural paints and coatings, industrial and marine products, and original equipment manufacturer product finishes and similar items. As of January 1, 2011, the Paint Stores Group operated 3,954 individual paint stores. By January 1, 2016, the Paints stores group had expanded to 4,080 stores.

The Diversified Brands Group develops, manufactures, and distributes various paints, coatings, and related products, under the brand names of Duron, Frazee, MAB, Minwax, Krylon, Mautz, Purdy, Bestt Liebco, Thompson's WaterSeal, H&C, Pratt & Lambert, Martin-Senour and Dutch Boy, to third party customers in addition to overseeing the operations maintained by The Americas Group.

Sherwin-Williams also makes its own paints under the Easy Living and Weatherbeater brand names; those paint brands are used exclusively for Sears and Kmart stores.

On August 28, 2007, Sherwin Williams purchased Columbia Paint & Coatings.[4] On July 6, 2011, Sherwin-Williams acquired Leighs Paints, based in Bolton UK, manufacturers of intumescent and high performance industrial coatings.[5] In late 2012, Sherwin Williams began the process of purchasing the Comex Group. Comex was the 4th largest paint manufacturer in North America.[6] After Mexican antitrust regulators voted against the deal twice, Sherwin-Williams bought Comex's US and Canadian divisions for $165 million on Sept 16, 2013.[7] PPG, US-based paint and coating company, acquired Comex's Mexican division for $2.3 billion.

In 2007, the company introduced its first "Idea Center" in Shaker Heights, Ohio, in an effort to provide customers with an interior design environment as contrasted with its conventional paint stores.

Sherwin-Williams Automotive Finishes

The Sherwin-Williams Automotive Finishes segment develops, manufactures, and distributes various motor vehicle finish, refinish, and touch-up products. It also licenses certain technology and trade names worldwide, as well as distributes Sherwin-Williams branded automotive finish and refinish products through its network of automotive branches. The Automotive Finishes segment opened their 200th automotive branch in Calumet Park, IL on September 21, 2007. The International Coatings segment develops, licenses, manufactures, and distributes various paints, coatings, and related products worldwide through 76 company-operated specialty paint stores, as of the above date, and by outside selling functions to other dealers and distributors.

Sherwin-Williams Spray Source

The Sherwin-Williams Spray Source service centers offer new equipment, parts and accessories, maintenance and repairs to rental programs. There are over 100 service centers located across the U.S. and Puerto Rico. They have factory-trained technicians that provide maintenance and repairs on paint sprayers, pressure (cleaners) washers, conventional spray guns, HVLP (High Volume Low Pressure) systems, plural-component equipment from manufacturers like EXEL North America, Kremlin Rexson, Sames, Johnstone, Graco, Titan/Speeflo, Spraytech/Wagner, Capspray, ITW Binks, AccuSpray, Mi-T-M, Pressure Pro, and more. They provide repairs like maintenance, emergency and warranty, telephone troubleshooting support, on-site demonstrations, and training. Prior to 2008, the program was called SherWorks.

Sherwin-Williams Mexico

In 1929, Sherwin-Williams Mexico started operations. Headquarters is in Mexico City.

Sherwin-Williams Mexico has 109 branches and 200 dealers.

STIR magazine

STIR magazine is a tri-annual publication delivering color news and resources to residential and commercial interior designers and architects throughout North America. The magazine is created and published by Hanley Wood, LLC. The first issue was published in 2004.

Gray Drug

Between 1981 and 1987, Sherwin-Williams owned Gray Drug.

Valspar

In March 2016, it was announced that Valspar would be acquired for $11.3 billion U.S. dollars. The merger was finalized 1st June, 2017.[8]

Awards

STIR magazine has won several industry awards, including a 2005 FOLIO award for best design,[9] new custom publication, as well as a 2007 Pearl Award from the Custom Publishing Council for the best in custom Publishing category.[10]

On June 20, 2011, Computerworld named The Sherwin-Williams Company the #58 Best Place to Work in IT.[11]

In 2015, Sherwin-Williams was recognized as the most used brand as well as the winner for brand familiarity and quality rating in the Paints category by the Builder magazine.[12]

Competition

Sherwin-Williams' major competitors are PPG, Axalta Coating Systems, BASF (through Ace Hardware and Lowe's), Behr (through The Home Depot), and Benjamin Moore. There are also several smaller, regional competitors, though Sherwin-Williams has acquired a few of them (such as MAB and Columbia Paint & Coatings and Parker Paints) in recent years. Valspar was acquired in June 2017.

Lead paint lawsuit

In January 2014, the Santa Clara County Superior Court ruled that Sherwin-Williams, along with NL Industries and ConAgra were jointly and severally liable for $1.15 billion, to be paid into a lead paint abatement fund to be used to remove lead paint from older housing.[13][14] The judge ruled that the paint companies manufactured, marketed, and sold lead paint without disclosing the health risks to the consumers in spite of "actual and constructive knowledge that it was harmful."[15][16] In March 2014 Sherwin-Williams was denied a new trial.[17]

Members of the team of attorneys who fought the case, including Mary E. Alexander of Mary Alexander & Associates, P.C. in San Francisco, Joseph W. Cotchett and Nancy L. Fineman of Cotchett, Pitre & McCarthy, LLP in Burlingame, Calif., Peter Earle of the Law Office of Peter Earle in Milwaukee, Wis., and Fidelma L. Fitzpatrick of the firm Motley Rice in Providence, R.I. were given a 2014 Trial Lawyer of the Year Award at the annual Public Justice Gala and Awards Dinner on July 27 at the American Visionary Art Museum in Baltimore, Md.[18] As per their 2013 annual report, Sherwin-Williams considers this case without merit and will appeal the decision. The process may take another two years.[19]

References

  1. 1 2 3 4 5 6 THE SHERWIN-WILLIAMS COMPANY Form 10-K, Securities and Exchange Commission, February 27, 2014
  2. ↑ "Sherwin-Williams paint company to buy Valspar for $8.9 billion".
  3. ↑ "Country Boys Make Good...". Sherwin-Williams. Retrieved 2013-05-12.
  4. ↑ Drukenbrod, Mark. "Columbia Paint & Coatings Co. to merge with Sherwin-Williams, Hercules acquires specialty surfactants business of Dexter Chemical L.L.C., Benjamin Moore acquires Finnaren & Haley Paint & Coatings". SpecialChem. Retrieved 15 June 2015.
  5. ↑ ": PaintSquare News".
  6. ↑ Cho, Janet. "1 comment Sherwin-Williams buys Consorcio Comex's U.S. and Canadian business, still hopeful about Mexican division". Cleveland.com. Retrieved 15 June 2015.
  7. ↑ "Consorcio Comex, the Mexican paint company Sherwin-Williams wanted, being acquired by rival PPG Industries".
  8. ↑ Jamerson, Joshua (19 December 2016). "Sherwin-Williams, Valspar Say Merger Is on Track to Close by End of First Quarter" – via www.wsj.com.
  9. ↑ "FindArticles.com - CBSi".
  10. ↑ Hanley Wood Marketing 2007 Pearl Award
  11. ↑ Mitchell, Robert L. "No. 58 Best Place to Work in IT: The Sherwin-Williams Co.".
  12. ↑ "2015 BUILDER BRAND USE STUDY RESULTS". Builder. Retrieved 19 June 2015.
  13. ↑ Rosenblatt, Joel (2013-12-17). "Sherwin, NL, ConAgra Lose $1.1 Billion Lead Paint Ruling". Bloomberg News. Retrieved 2014-11-25.
  14. ↑ Rosenblatt, Joel (2014-01-08). "Manufacturers Must Pay $1.15 Billion in Lead Paint Suit". Bloomberg Businessweek. Retrieved 2014-11-25.
  15. ↑ Elias, Paul (2013-12-17). "Lead Paint Lawsuit: Judge Orders 3 Companies To Pay $1.1 Billion For Removal Services". Huffington Post. Retrieved 2014-11-25.
  16. ↑ Kleinberg, James (7 January 2014). "Judge Kleinberg's Order, final statement of decision, Case Number 1-00-CV-788657" (PDF). Santa Clara County Superior Court's Electronic Filing System. Retrieved 26 August 2014. The defendants sold lead paint with actual and constructive knowledge that it was harmful
  17. ↑ VALHI INC /DE/ Form 10-K on 03/13/2015
  18. ↑ "Attorneys Who Won Landmark Lead Paint Judgment and Cleanup Named Public Justice Trial Lawyers of the Year". The Public Justice Foundation. 28 July 2014. Retrieved 27 August 2014.
  19. ↑ "Annual Report 2013 page 32-33." (PDF). Sherwin-Williams. Retrieved August 27, 2014.

Further reading

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