Sherwin-Williams acquires Euronavy
Sherwin-Williams has completed the acquisition of Euronavy-Tintas Maritimas e Industriais S.A. of Lisbon, Portugal -- the company joins Sherwin-William’s Global Protective & Marine Coatings Division.
Euronavy produces marine and protective coatings applied to ships, off-shore platforms, storage tanks, steel, concrete and flooring.
“We are pleased to bring Euronavy, a well respected global company and its talented people into the Sherwin-Williams family,” said Christopher M. Connor, chairman and CEO of Sherwin-Williams. “This acquisition reaffirms our commitment to growing globally through organic expansion, accelerated by appropriate acquisitions.”
Founded in 1981, Euronavy has 40 employees with sales of less than US$25 million. Its coatings are sold in Brazil, Singapore, China, Vietnam, Dubai, Europe, Portugal, Canada and the United States.
“We are excited to join the Sherwin-Williams family and to contribute to the company's success across the globe. We have been an admirer of Sherwin-Williams for years, and now we are a partner,” said Mario Paiva, Euronavy chairman.