Sherwin-Williams Buys Asia Coating Unit
February 11, 2008
The Associated Press reported that Sherwin-Williams Co. said recently it will buy the liquid coating division of Inchem Holdings International Ltd., expanding the paint producer''s reach in Southeast Asia.
Terms of the deal were not disclosed.
Inchem''s coating operation is based in Singapore and makes products applied to wood and plastic. The coatings are produced in China, Vietnam and Malaysia and are sold in those countries and 15 others in Asia.
Inchem was founded in 1992, has 400 employees at four factories and generates annual sales of about $30 million.
In the past year, Sherwin-Williams has acquired paint and coatings companies in India, Uruguay and Mexico.