2. The Sherwin-Williams Co.

Cleveland

216/566.2000

Chairman, President and CEO: John G. Morikis

2021 Coatings Sales: Approx. $15.96 billion

www.sherwin.com

The Sherwin-Williams Co. was founded in 1866 by Henry Sherwin and Edward Williams. The company provides coatings and related products to professional, industrial, commercial and retail customers in paint stores in the United States, Canada and the Caribbean. Employing approximately 61,000 people, Sherwin-Williams is organized into three segments: the Americas Group, the Consumer Brands Group and the Performance Coatings Group.

The Americas Group operates the Sherwin-Williams branded coatings and supplies in the United States, Canada, the Caribbean and Latin America. Products sold through this group include paint, stains, aerosols, caulks, varnishes, protective and marine coatings, applicators, and spray equipment in the United States, Canada, the Caribbean and Latin America; wall and floor coverings in the United States, Canada and the Caribbean; and OEM product finishes in Latin America. Brands include Sherwin-Williams®, Cashmere®, Colorgin®, Condor®, Duration®, Emerald®, Harmony®, Kem Tone®, Loxon®, Metalatex®, Novacor®, Paint Shield®, ProClassic®, ProIndustrial™, ProMar®, SuperDeck®, SuperPaint® and Woodscapes®. The Americas Group operates 4,549 Sherwin-Williams paint stores in the United States, Canada and the Caribbean, and 310 in Brazil, Chile, Ecuador, Mexico and Uruguay.

The Consumer Brands Group sells branded and private-label products through retailers in North America, Europe and China. Customers include professional painting contractors, DIY painters, industrial maintenance providers and flooring contractors. Products sold in this group include paints, stains, varnishes, wood finishing products, wood preservatives, industrial products, corrosion inhibitors, aerosols, caulks and adhesives, and applicators. Brands include Cabot®, Dupli-Color®, Dutch Boy®, Geocel®, HGTV HOME® by Sherwin-Williams, Huarun®, Krylon®, Minwax®, Purdy®, Ronseal®, Thompson’s® WaterSeal®, Valspar® and White Lightning®. The group serves customers in the United States, Canada, Europe and China through over 10,000 distribution points.

The Performance Coatings Group sells coatings and finishes to customers in the general industrial, industrial wood, protective and marine, coil and extrusion, packaging, and automotive coatings markets. Brands include Sherwin-Williams®, Acrolon®, AcromaPro®, ATX®, DeBeer Refinish®, Duraspar®, EcoDex®, Envirolastic®, Excelo®, EzDex®, Fastline®, Firetex®, Fluropon®, Heat-Flex®, House of Kolor®, Huarun®, Inver®, Kem Aqua®, Lazzuril®, Macropoxy®, Martin Senour®, Matrix Edge™, ML Campbell®, Octoral®, Perma-Clad®, Polane®, Powdura®, Sayerlack®, Sher-Wood®, Sumaré®, Ultra 9K®, Ultra 7000®, ValPure® and Valspar®. The group operates branches and facilities in the United States, Australia, Belarus, Belgium, Brazil, Canada, Chile, China, Czech Republic, Denmark, Finland, France, Germany, India, Indonesia, Ireland, Italy, Lithuania, Malaysia, Mexico, Norway, Peru, Poland, Portugal, Romania, Russia, Singapore, Spain, Sweden, Thailand, Ukraine, United Kingdom and Vietnam, with distribution in 44 other countries.

Sherwin-Williams reported total consolidated sales for 2021 of approximately $19.94 billion. It is estimated at approximately 80% of sales, or about $15.96 billion, represents coatings sales, with the remainder being related to products such as floor coverings, application supplies and wallcoverings. The Americas Group reported a net sales increase of 8.0% to $11.2 billion in 2021, which accounts for 56% of total 2021 sales for the company. Net sales in the Consumer Brands Group decreased 10.9% in 2021 to $2.72 billion. This accounts for 14% of 2021 total sales. The Performance Coatings Group reported a 22.0% increase in net sales in 2021 to $6.0 billion. Performance Coatings Group sales represent 30% of total sales for 2021.

Notes: In February of 2021, Sherwin-Williams Co. announced it had signed a purchase agreement with global coatings company Hempel A/S to divest Wattyl, an Australian and New Zealand manufacturer and seller of architectural and protective paint and coatings with annual revenue of approximately $200 million and 750 employees. In August 2021, the company signed an agreement to acquire the European industrial coatings business of Sika AG, and the sale was finalized in April of 2022. The business reported sales of approximately $82 million in 2020.

Also in 2021, the company broke ground on the official start of construction for its new global Research and Development Center in Brecksville, Ohio. In January 2022, the company marked the official start of construction of its new global headquarters, a 1,000,000 square-foot facility located in downtown Cleveland, Ohio. Both facilities are expected to open in 2024. In February 2022, the company announced plans to expand its architectural paint and coatings manufacturing capacity and establish a larger distribution facility in Statesville, North Carolina, which will essentially double the existing workforce at the facility.
 
Source: 2021 Annual Report, company website, press releases