Sika to divest European industrial coatings business
Sika has agreed to sell its European industrial coatings business, based in Germany, to The Sherwin-Williams Company. The transaction is expected to close in the beginning of 2022.
Sika has taken the strategic decision to divest its European industrial coatings business. The business offers a wide portfolio of products and solutions primarily sold to specialised customer groups such as steel construction companies or anticorrosion experts. These customer segments provide little synergy potential on a Group-wide level and the business is therefore considered a specialised niche within the Sika Group.
Anticorrosive and fire protection coatings
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.
With Sherwin-Williams, Sika is convinced to have found the right long-term owner for the European industrial coatings business. Industrial coatings is a core competence for Sherwin-Williams and the acquired business an important strategic opportunity to drive growth and support the expansion of its market position in Europe.