Sherwin-Williams completes Inchem acquisition
Sherwin-Williams has completed its acquisition of the liquid coatings subsidiaries of Inchem Holdings, a Singapore-based coatings producer.
Financial terms of the deal were not disclosed.
Inchem produces a variety of coatings applied to wood and plastic products in Asia, including water-based, solvent-based and ultraviolet curable coatings for furniture, cabinets, flooring, electronic products, appliances and other items made for export and domestic sale. Inchem manufactures and sells products in China, Vietnam and Malaysia, and distributes to 15 other Asian countries.
The company had sales of $30 million last year.
“This acquisition reaffirms our commitment to growing globally through organic expansion, accelerated by strategically important acquisitions,” said Sherwin-Williams CEO Christopher Connor in a statement.
Sherwin-Williams has acquired other international properties in the past year, including India’s Nitco, Pinturas Industriales of Uruguay, Napko of Mexico and Flex, also based in Mexico.